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Old 28-09-2011, 14:08   #1
Chris
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Europe wants to impose financial transaction taxes ...

...and is severely annoyed that it can't, because of an inconvenient little thing called the National Veto. The UK Treasury has stated that it will resist any attempt to impose a Europe-wide tax on institutional transactions between banks, not least because up to 80% of the revenue generated by any such tax would come from activity in London.

No matter, in the undemocratic world of European bureucracy, the "constraints of unanimity" could be circumvented by "further changes to the Treaty of Lisbon". So says Jose Manuel Barroso, some Portuguese bloke none of us ever voted into a position where he can either impose taxes on us, or for that matter a position where he can threaten to change the rules in his favour if we try to stop him imposing taxes on us.

More astonishing Euro-arrogance here:

http://www.bbc.co.uk/news/business-15090761
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