Quote:
Originally Posted by Osem
So far as I can see they're being defended against a Tobin Tax which wouldn't apply outside Europe, that's the problem. IIRC much of the regulatory change required has happened.
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I thought the Tobin Tax was one of many regulations being considered by the EU. We wanted an exemption from any EU directive being imposed on our finance industry. That was my understanding anyway....
---------- Post added at 15:34 ---------- Previous post was at 15:33 ----------
Quote:
Originally Posted by Chris
Regulations can be implemented by QMV (qualified majority voting) but taxation would require unanimity (i.e. UK can still veto). AFAIK a lot of regulation is already agreed and set to come in by about 2014.
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So essentially we always had, and have, the option not to impose the Tobin Tax but abide by the other measures?