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Most viewed in Business
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Lessons for the EU from JPMorganFinancial firm's woes should serve as a warning to the EU. |
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Tax plan
The European Commission is expected to publish its proposal for a tax on financial transactions next month.
It is likely to comprise a 0.1% levy on a stock or bond trade and a 0.01% tax on derivatives trades.
Assuming this tax rate, the Commission estimates the revenue at €20 billion, based only on exchange-traded bonds.
If derivatives were included, some studies say that the revenue could rise to €150bn.
A currency transaction levy of 0.005%, based on the worlds' most traded currencies, could yield €24bn.
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UK drops opposition to new rules on bank capital and liquidity.
