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

We should be grateful for the opportunity to give the EU more money ,damn cheek if you ask me us even having a veto ,we should ,without further delay renounce all sovereign rights and accept our new overlords

How about a tax on hot air the EU could solve the eurozone debt crisis in a matter of weeks. Seriously how long is it going to take for any politician to have the backbone to give the UK people what they want and allow us to vote on leaving this discredited, corrupt institution. Lets just get to a free trade zone in europe with us having decent relations with our european neighbours because we choose too not because some stuffed shirt tells us all we have to get along.

As far as i am concerned the federal EU dream is simply not realistic and most people in europe are starting to realise that and oppose the idea and the institution. Just making us all one continent won't solve the old problems some think it will if anything i think it will make nationalism worse then it is now, no free trade yes, cooperation in some things yes but federal system and things being decided\run from brussels or by a federal EU i would rather chew my limbs off.

according to sky news on tv now ,france and germany are going to go ahead with it anyway regardless of what we do and Bill Gates(in his role as adviser to the g20) says it's a good idea ...so there you go

To be fair, even the UK Treasury admits it's a decent idea in principle - *if* it's implemented globally, by international treaty. Gates will be supporting the notion on that basis, I should imagine.

France and Germany can do whatever they want. If they want to go on paying for Greece's party, more fool them.

so if i understand this correctly ,the idea behind implementing such a tax would be to make sure there is enough money in the Euro pot to bail out countries that may default on loans ...like greece ?

I believe that's the idea, yes. And Barroso would like it if he could impose that on the UK whether the UK likes it or not. Thankfully we still have a veto on tax issues so he can't. But that simply has him thinking that he would like to re-open the Lisbon treaty for renegotiation in order to try to remove the veto on tax.

... all of which means we very much need the Coalition legislation that will guarantee us a referendum on all future treaty negotiations as soon as possible.

[Sirius]

So the Germans could not rule Europe by force so now they will do it via a political system and as is the norm the french role over and help them. Sooner we have the vote and leave the better. I never voted to be part of this why should i have to suffer. We need all the money in this country.

[Ignitionnet]

Originally Posted by Chris

I believe that's the idea, yes. And Barroso would like it if he could impose that on the UK whether the UK likes it or not. Thankfully we still have a veto on tax issues so he can't. But that simply has him thinking that he would like to re-open the Lisbon treaty for renegotiation in order to try to remove the veto on tax.

... all of which means we very much need the Coalition legislation that will guarantee us a referendum on all future treaty negotiations as soon as possible.

That legislation is going to have various Liberal Democrat sourced holes in it to ensure that referenda can be avoided.

One half of the coalition threaten to stomp their foot if the other half attempts to use the current European situation in our national interest so I've my doubts that we'll get a cast iron referendum guarantee.

[Sirius]

Originally Posted by Ignitionnet

That legislation is going to have various Liberal Democrat sourced holes in it to ensure that referenda can be avoided.

One half of the coalition threaten to stomp their foot if the other half attempts to use the current European situation in our national interest so I've my doubts that we'll get a cast iron referendum guarantee.

Sod a referandum lets do as the EU does and just do it any way, Mr Cameron grow a pair and get us OUT

Originally Posted by Chris

I believe that's the idea, yes. And Barroso would like it if he could impose that on the UK whether the UK likes it or not. Thankfully we still have a veto on tax issues so he can't. But that simply has him thinking that he would like to re-open the Lisbon treaty for renegotiation in order to try to remove the veto on tax.

... all of which means we very much need the Coalition legislation that will guarantee us a referendum on all future treaty negotiations as soon as possible.

well in principle i'm all for it as long as everybody does it and the money raised is shared proportionally back into the EU countries not just swallowed up in the Euro financial black hole and given to every country with a begging bowl and dodgy budget ,it could provide some much needed extra finance provided by banks who contributed to the mess we are in now .

[Sirius]

Originally Posted by martyh

well in principle i'm all for it as long as everybody does it and the money raised is shared proportionally back into the EU countries not just swallowed up in the Euro financial black hole and given to every country with a begging bowl and dodgy budget ,it could provide some much needed extra finance provided by banks who contributed to the mess we are in now .

Is this balanced across all the EU countries or is it just a few that will pay the main amount whilst the rest pay next to or sod all ????

It's a percentage charged on every transaction where at least one of the institutions is within the EU. Seeing as 80% of institutional financial transactions within the EU occur in London .... well, do the maths.

Originally Posted by Sirius

Is this balanced across all the EU countries or is it just a few that will pay the main amount whilst the rest pay next to or sod all ????

well as chris said earlier 80% of these transactions go through london so in theory our financial center would be contributing a huge ammount ,so under my idea we would get back the bulk of the money as it would be proportionally shared out .That is only my idea though ,the reality is that such a europe wide tax would be eaten up by poor countries or those incapable of budgeting their finances ...like greece.
Our financial institutions would pay the bulk of the tax and we as a country would see little or no benefit

[Sirius]

Originally Posted by Chris

It's a percentage charged on every transaction where at least one of the institutions is within the EU. Seeing as 80% of institutional financial transactions within the EU occur in London .... well, do the maths.

So yet again we are crapped on by the EU. We fund the loser countries, What cracks me up is some think its the best thing since sliced bread to be a member of these money grabbing con men in Europe.

I just wished Cameron had a pair and gave us a vote to leave.

---------- Post added at 17:46 ---------- Previous post was at 17:44 ----------

Originally Posted by martyh

Our financial institutions would pay the bulk of the tax and we as a country would see little or no benefit

So then not the sort of system we need to be involved in.