This part of the Merkel-Sarkozy-statement is a déja vu, and this tax has nothing to do with the tax originally proposed by Tobin. It's just another read-my-lips-promise.
cf. London Times May last year (May 20, 2010): "The German newspaper Handelsblatt today reported that Ms Merkel has made a dramatic U-turn on the introduction of the tax. The article noted that as late as Sunday she still opposed it but that yesterday she said taxation is needed, whether it is a financial activity tax or a financial transaction tax." "The German Chancellor told a conference in Berlin that, at the height of the global financial crisis in 2008 when governments had to plough billions into propping up banks and other financial institutions, the G20 nations agreed that 'every product, every actor and every financial centre must be regulated we promised people that'." http://business.timesonline.co.uk/tol/business/economics/article7131991.ece via http://en.wikipedia.org/wiki/Tobin_tax At 01:00 17.08.2011, Jim Devine wrote: > A renewed push to introduce a transaction tax > on financial trades triggered a slide in > exchange stocks Tuesday after German Chancellor > Angela Merkel and French President Nicolas > Sarkozy pledged to launch a new proposal in September. > >In the past, both leaders have backed a levy on >trading in stocks, derivatives and currencies, a >concept discussed for years as a means to generate ... > >[then I hit the Wall Street JOURNAL's pay wall.] _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
