Cameron UK Veto thing, explain to me the consequences

[droid]

Don't be giving Dave too much credit now. If the city asked him to dress as a bulldog and crawl round on all fours barking at Lagard they wouldn't expect to have to ask twice.

There was no barking. He just peed on her shoes and then hid behind a curtain whimpering.

 

[vimothy]

I'm not sure that the Tobin Tax really is a no-brainer, but in any case, the priority should be preventing the collapse of the Euro. I don't see that what was proposed at the summit does anything to further that goal, and so it seems to me that Cameron can't fairly be blamed if indeed it does collapse.

 

[Sectionfive]

Fear not Rich. Joey Barton is breaking everything down as we speak.

@Ed_Miliband not as bad as Gordon Brown selling the gold at january sale prices! It makes sense to not be in Euro-mess and u know it Edward.

FYI am not a leftie or a rightie, am neither libertarian or statist, am a centrist..........

 

[IdleRich]

What's the downside of a Tobin Tax then if it's applied around the world?

 

[Sectionfive]

Other then it being perceived as a tax on the rich it means even more money and profit ends up whizzing around the world before surfacing in the Caymans I assume. So probably even less tax paid. Even if it came in tomorrow you there is already twenty ways of getting around it. Tbh I think it's just a populist thing and doesn't go far enough/won't be properly enforced.

If almost every singling policy so far has been firmly on the side of finance you have to doubt our leaders sudden change of heart.


I think Vim might mean it's not good in so far it would make one country's finance sector "less competitive" then one that doesn't have it. ie I don't see it coming to Wall St anytime soon

 

[IdleRich]

Yeah but if it's applied everywhere around the world then there won't be a finance centre that doesn't have it. I understand that a unilateral, bilateral or larger introduction would have problems but other than that I can't see a downside.