"The world is watching Europe, waiting upon a solution. It’s not just the euro that’s at stake. If the euro fails, so too does the 27-nation European Union. Bank lending would freeze, stock markets would likely crash, and Europe’s economies would follow. Nations in the euro-zone would see their economic output decline, though temporarily, by as much as 50%, according to UBS forecasters. That economic meltdown would then spread to the U.S. and Asia, who would find themselves caught up in the credit freeze while their exports to Europe would collapse."
Source:
http://finance.yahoo.com/news/Euro-Finance-Ministers-wscheats-3060132077.html
Thanks to NaturalNews.com for the tipoff
Showing posts with label European Union. Show all posts
Showing posts with label European Union. Show all posts
Friday, December 23, 2011
Sunday, October 2, 2011
Transaction Tax in EU?
From Business Week:
The European Union proposed a financial-transactions tax that would take effect in 2014 and raise about 57 billion euros ($78 billion) a year, prompting renewed opposition from the U.K.
The proposal would apply a tax of 0.1 percent on trading of stocks and bonds, with a 0.01 percent rate for derivatives contracts, the European Commission, the EU executive, said today in Brussels. Those minimum rates would apply throughout the 27- nation bloc. The measure would deliver “a fair contribution from the financial sector,” EU Tax Commissioner Algirdas Semeta said.
European governments are split over the merits of a transactions tax, while British banks warn that an EU-only measure would drive business to other regions. The U.K., home to Europe’s biggest financial center, has opposed the move, which requires the unanimous support of all EU countries. The U.K. Treasury reiterated today that such a levy would need to apply globally.
EU Proposes Financial-Transactions Tax to Start in 2014
September 28, 2011
Rebecca Christie
http://www.businessweek.com/news/2011-09-28/eu-proposes-financial-transactions-tax-to-start-in-2014.html
The European Union proposed a financial-transactions tax that would take effect in 2014 and raise about 57 billion euros ($78 billion) a year, prompting renewed opposition from the U.K.
The proposal would apply a tax of 0.1 percent on trading of stocks and bonds, with a 0.01 percent rate for derivatives contracts, the European Commission, the EU executive, said today in Brussels. Those minimum rates would apply throughout the 27- nation bloc. The measure would deliver “a fair contribution from the financial sector,” EU Tax Commissioner Algirdas Semeta said.
European governments are split over the merits of a transactions tax, while British banks warn that an EU-only measure would drive business to other regions. The U.K., home to Europe’s biggest financial center, has opposed the move, which requires the unanimous support of all EU countries. The U.K. Treasury reiterated today that such a levy would need to apply globally.
EU Proposes Financial-Transactions Tax to Start in 2014
September 28, 2011
Rebecca Christie
http://www.businessweek.com/news/2011-09-28/eu-proposes-financial-transactions-tax-to-start-in-2014.html
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