Financial Regulatory Forum

from The Great Debate:

Merkel and Sarkozy are right about a Tobin tax

August 17, 2011

By Mark Thoma
All opinions expressed are his own.

The financial transactions tax is back in the news today. According to reports, French President Nicolas Sarkozy and German Chancellor Angela Merkel will propose a financial transactions tax in September.

ANALYSIS-Transaction taxes, liquidity and patience

September 8, 2010

By Mike Dolan

LONDON, Sept 8 (Reuters) – The case for a tax on global financial transactions may have been perversely boosted by the relative success of foreign exchange markets through the past three years of world banking turmoil.

SCENARIOS – G20 efforts to agree on a bank levy

March 31, 2010

By Huw Jones

LONDON, March 31 (Reuters) – France backed Germany’s plans for a bank levy on Wednesday to boost momentum for a global deal among the G20 group of leading countries later this year.

SCENARIOS – Bank tax idea gains traction, still ill-defined

February 16, 2010

  LONDON/WASHINGTON, Feb 16 (Reuters) – World leaders want banks and financial firms to pay up for government interventions — past and future — to stabilize the international financial system. While details are sketchy, some form of bank balance sheet tax appears to be gaining ground.

EU presses IMF over financial transaction tax

December 14, 2009

   By David Brunnstrom and Timothy Heritage
   BRUSSELS, Dec 11 (Reuters) – The European Union increased pressure on the International Monetary Fund on Friday to consider a global tax on financial transactions to limit the risk of another economic crisis.

EU backs global financial transaction tax

December 11, 2009

By David Brunnstrom and Timothy Heritage

BRUSSELS, Dec 11 (Reuters) – The European Union urged the International Monetary Fund on Friday to pursue a global tax on financial transactions to limit the risk of another economic crisis, despite U.S. opposition.

Darling says will not harm UK’s financial sector

December 7, 2009

 A man looks out over Hampstead Heath, with the City of London in the background October 29, 2009.   By Matt Falloon and Steve Slater

HORSHAM, England, Dec 7 (Reuters) – The British government will not do anything to hurt London’s financial prowess and would rather go too far with economic support measures than not go far enough, Finance Minister Alistair Darling said on Monday.

China seeks feedback on bond trade tax changes

November 12, 2009

    By Hua Zhong
   SHANGHAI, Nov 12 (Reuters) – China’s State Administration of Taxation is seeking suggestions from the industry on standardising the basis of different types of bond trading on  how they will be taxed, which may dampen trading activity, several sources told Reuters. (more…)

UK gives impetus to global banks tax, U.S. doubtful

November 8, 2009

Britain's Prime Minister Gordon Brown addresses the G20 Finance Ministers meeting at a hotel in St. Andrews, Scotland November 7, 2009. A tax on financial transactions to fund future bank bailouts should be considered with urgency, British Prime Minister Gordon Brown told G20 policymakers on Saturday, a significant departure from London's line to date.      REUTERS/Andrew Winning (BRITAIN BUSINESS POLITICS)   By Huw Jones
ST ANDREWS, Scotland, Nov 7 (Reuters) – Britain urged world governments on Saturday to consider a levy on banks to fund future bailouts, departing from long-held opposition, though there was little sign of the consensus needed to make it fly.

G20 to task IMF to probe “Tobin tax” on financial transactions -G20 source

September 25, 2009

Economist James Tobin, who conceived the idea of a global tax on financial transactions that now bears his name. PITTSBURGH, Sept 25 (Reuters) – G20 leaders have tasked the International Monetary Fund to investigate ways the financial markets could pay for the effects of the economic crisis, such as a tax on all international financial transactions, a G20 source said on Friday.