Disliked{quote} I think that topic deserves a separate thread, if verified... This Tobin Tax has been on a plate for quite some time, for forex also... But if the EU does this, it will shot itself in the foot... UK might then HARVEST the run-away traders... I mean until few years ago EU was almost dream land for traders... As US limited leverage, EU offered a good spot for trading in a relatively reliable environment with basically unlimited trading tools such as high leverage... Now they are f.ing it up... Time to HEDGE things...Ignored
-Populist, socialistic Finance minister. Politicians trade on VOTES.
-Originally it was intended to "protect" savings from HFTrading, and "speculators" after the 2008 crisis.
-Then they were forced to wash it down.
-Result: Tobin will apply "ONLY" on German stocks (super idea to extract liquidity from the German industry).
-Germany was just recovering from a general aversion of savings in stocks...this puts another hurdle on the small savings of common people, already hit by negative interest on their bank savings.
Finance Minister plays Robin Hood, protecting the people from the "bad speculators", they just approved a minimum retirement plan for everybody (very popular), which will be financed by Tobin Tax.