InfoAnda - Eleven euro states back financial transaction tax |

Pakistanis angry over detentions in Times Sq. case
Monday, May 24, 2010
ISLAMABAD – Relatives of three men detained by Pakistan for alleged links to the suspect in the attempted Times Square bombing say the men are innocent.
They

Taiwan denies boycotting Australian film festival
Thursday, August 6, 2009

AFP - Thursday, August 6TAIPEI (AFP) - - Taiwan's Beijing-friendly government on Wednesday denied boycotting an Australian film festival amid a row over the e

Merkel's support dips, regional ally resigns International
Thursday, September 3, 2009

By Sarah Marsh and Noah Barkin

BERLIN (Reuters) - Chancellor Angela Merkel suffered a double blow on Thursday as a senior party ally in east German

Minister seeks closure of anti-Berlusconi websites
Wednesday, December 16, 2009
ROME (AFP) - – The Italian government moved Tuesday to close down Internet sites encouraging further violence against Prime Minister Silvio Berlusconi, who

Asian markets mixed after Wall Street rally
Wednesday, March 18, 2009

By ELAINE KURTENBACH,AP Business Writer AP - Wednesday, March 18SHANGHAI - Asia's stock market rally seemed to be running out of steam Wednesday, despite an

Pakistan flood victims to face winter in camps say U.N. | 29 October 2010
Kony's LRA rebels mostly out of Congo, general says | | 14 March 2012
Lagarde warns of dangerous new phase for global economy | 29 August 2011

Election chaos in Haiti as candidates cry foul | 29 November 2010

Forum Views () Forum Replies ()

Read more with google mobile : Eleven euro states back financial transaction tax |

Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Home Business Business Home Economy Technology Media Small Business Legal Deals Earnings Social Pulse Business Video The Freeland File Aerospace & Defense Markets Markets Home U.S. Markets European Markets Asian Markets Global Market Data Indices M&A Stocks Bonds Currencies Commodities Futures Funds peHUB World World Home U.S. Brazil China Euro Zone Japan Mexico Russia India Insight World Video Reuters Investigates Decoder Politics Politics Home Election 2012 Campaign Polling Supreme Court Politics Video Tech Technology Home MediaFile Science Tech Video Tech Tonic Social Pulse Opinion Opinion Home Chrystia Freeland John Lloyd Felix Salmon Jack Shafer David Rohde Nader Mousavizadeh Lucy P. Marcus David Cay Johnston Bethany McLean Anatole Kaletsky Reihan Salam Edward Hadas Hugo Dixon Ian Bremmer Lawrence Summers Susan Glasser The Great Debate Steven Brill Jack & Suzy Welch Frederick Kempe Christopher Papagianis Mark Leonard Breakingviews Equities Credit Private Equity M&A Macro & Markets Politics Breakingviews Video Money Money Home Tax Break Lipper Awards 2012 Global Investing MuniLand Unstructured Finance Linda Stern Mark Miller John Wasik James Saft Analyst Research Alerts Watchlist Portfolio Stock Screener Fund Screener Personal Finance Video Money Clip Investing 201 Life Health Sports Arts Faithworld Business Traveler Entertainment Oddly Enough Lifestyle Video Pictures Pictures Home Reuters Photographers Full Focus Video Reuters TV Reuters News Article Comments (3) Slideshow Video Pictures Reuters Photojournalism Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption "Sexiest woman alive" Mila Kunis Actress Mila Kunis has been dubbed "the sexiest woman alive" by Esquire magazine in its November issue out this week. Slideshow Health care in the US Health care, Obamacare and its future are key issues in the 2012 presidential election. A look at the state of health care in America. Slideshow Counterparties: Today's Best Links The billion-dollar patent war Apple and Google have recently spent more on patents than they have on developing new products, the New York Times reports. Read more at Counterparties The scandal that robbed Spanish depositors A concise explanation of why Zynga failed Get Counterparties by email! Follow Reuters Facebook Twitter RSS YouTube Read Sandusky gets 30-60 years prison for child abuse 11:07am EDT Turkish president says "worst case" unfolding in Syria | 08 Oct 2012 Greek police clash with protesters during Merkel visit 10:08am EDT Nobel for quantum "parlor trick" that could make super computers | 10:46am EDT Esquire names Mila Kunis "sexiest woman alive" 08 Oct 2012 Discussed 254 Romney’s strong debate showing puts Europe on edge 157 Obama and Romney battle over economy at debate 155 Weak U.S. labor market looms ahead of elections Sponsored Links Eleven euro states back financial transaction tax Tweet Share this Email Print Related News Merkel tells irate Greeks painful reforms will pay off 11:45am EDT French lawmakers vote to ratify EU fiscal pact 11:20am EDT Highlights: EU finance ministers meet on financial transactions tax 11:00am EDT Analysis & Opinion The Greek conundrum IMFâ€™s long-term worry: decades of higher rates Related Topics World » Related Video Greece greets Merkel with protests 9:52am EDT Trichet Exclusive: "Spain is not Greece" EZ politicians must stop playing blame game: Campbell 1 of 14. France's Finance Minister Pierre Moscovici (L), Britain's Chancellor of the Exchequer George Osborne (C) and Germany's Finance Minister Wolfgang Schaeuble (R) attend a European Union finance ministers meeting in Luxembourg October 9, 2012. Credit: Reuters/Yves Herman By John O'Donnell and Harry Papachristou LUXEMBOURG/ATHENS | Tue Oct 9, 2012 11:45am EDT LUXEMBOURG/ATHENS (Reuters) - Eleven euro zone countries agreed on Tuesday to press ahead with a disputed tax on financial transactions designed to help pay for the cost of fixing a crisis that has rocked the single currency area. The initiative, pushed hard by Germany and France but strongly opposed by Britain, Sweden and other free-marketers, gained critical mass at a European Union finance ministers' meeting in Luxembourg, when more than the required nine states agreed to use a treaty provision to launch the tax. The so-called "Tobin tax", first proposed by Nobel-prize winning U.S. economist James Tobin in the 1972 as a way of reducing financial market volatility, has become a political symbol of a widespread desire to make banks, hedge funds and high-frequency traders pay a price for the crisis. "This is a small step for 11 countries but a giant leap for Europe," Austria Deputy Finance Minister Andreas Schieder said. "The way is now clear for a just contribution from the banking and financial sector for financing the burdens of the crisis." The agreement raised the prospect of a pioneer group of European states for the first time launching a joint tax without the unanimous backing of the 27-nation bloc, a move that may fragment the single market for financial services. EU Tax Commissioner Algirdas Semeta told the meeting the number of states backing the initiative had passed the quorum for so-called "enhanced cooperation", provided some countries turn their oral backing into written commitment. "I proposed this tax as a source of new revenue from an under-taxed sector, and a means of encouraging more responsible trading," Semeta said. "It would also prevent a patchwork of national bank taxes from creating difficulties for businesses in the Single Market." However, critics say it could distort that market by giving banks and other traders incentives to shift their trading activities to European financial centers where the tax is not levied, or away from Europe altogether. "People will arbitrage it. People will find a way around it," said David Stewart, CEO of London-based hedge fund firm Odey Asset Management, which runs around $6.5 billion. "If someone really wants to buy a company that's good, I'm sure they'll keep on buying it. But if it's a synthetic derivative then they may go somewhere else ... More volume will go through London." Britain, home to the region's biggest trading centre, will not join the scheme. Austrian Finance Minister Maria Fekter said the 11 countries would present a model for how the tax would work by the end of the year, and it was realistic to expect the tax to be implemented by 2014. Semeta said the countries aiming to launch the tax did not yet agree on where the proceeds should go or on what they should be spent. "Some of them would like to spend it individually. Some of them prefer to use part of the proceeds to finance the EU budget. It is premature to say what will be the final outcome," he said. The breakthrough was a surprise to many EU diplomats who had thought Germany might fail to convince sufficient countries to join the plan, which has been in the works for two years. After heavy diplomatic pressure from Berlin overnight, Spain and Italy agreed to support the measure. Slovakia and Estonia said they would throw their weight behind it too. The European Commission has said a tax on stocks, bonds and derivatives trades from 2014 could raise up to 57 billion euros a year if applied across all countries. SCANT PROGRESS ELSEWHERE The agreement was a victory for German Chancellor Angela Merkel on the day she travelled to Athens, epicenter of Europe's debt crisis, to express her support for near-bankrupt Greece staying in the euro zone. Greek police fired teargas and stun grenades to hold back protesters who accuse Merkel of imposing devastating austerity on their country in exchange for two EU/IMF bailouts that have so far failed to turn the shattered economy around. "A lot has been accomplished," Merkel said after talks with Prime Minister Antonis Samaras, adding that the tough path Greece is on will pay off if Greeks stay the course. The financial tax deal masked a distinct lack of progress among finance ministers on other pressing issues facing the euro zone, including whether and when to provide a rescue package for Spain, and what to do about Greece's off-course program. The 17 euro zone ministers finally inaugurated their 500 billion euro permanent rescue fund on Monday, but danced around the question of how soon it might have to be used. Ministers insisted Spain was taking the right actions to restore its public finances and did not need a bailout for now, even though many in the financial markets are convinced Madrid will need help within weeks rather than months. The International Monetary Fund doused several euro zone countries' budget plans, including those of Spain and France, by revising down its 2013 growth forecasts for their economies. Euro zone peers told Spanish Economy Minister Luis de Guindos that his country's budget cuts should take into account the weakness in the economy as regional policymakers debated whether to let Madrid slacken the pace of its austerity drive. "The only thing I can say (about the IMF's forecasts for Spain) is to try to avoid that they happen," de Guindos said. "Logically, we are working on the basis that such negative forecasts are not met," he said. The ministers also had a "robust" discussion with the IMF about the long-term sustainability of Greece's debt mountain -- a key factor in whether international lenders release an urgently needed next tranche of aid to Athens. An IMF director told a Dutch newspaper that European countries should consider restructuring the Greek debt they hold if the country's financial burden proves unsustainable. Diplomats say euro zone governments would prefer to find ways to give Athens more time to meet its fiscal targets and postpone any consideration of official debt restructuring until after next September's German general election. European Central Bank chief Mario Draghi told the European Parliament the euro zone economy faced a long, uphill road to recovery and the bloc was still suffering a crisis of confidence. But he said there was no alternative to continued budget cuts. (Additional reporting by Eva Kuehnen in Luxembourg, Noah Barkin in Berlin, Renee Maltezou and Andreas Rinke in Athens, Laurence Fletcher in London. Writing by Paul Taylor, editing by Mike Peacock) World Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (3) gregbrew56 wrote: Edition: U.S. Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom Back to top Reuters.com Business Markets World Politics Technology Opinion Money Pictures Videos Site Index Legal Bankruptcy Law California Legal New York Legal Securities Law Support & Contact Support Corrections Connect with Reuters Twitter Facebook LinkedIn RSS Podcast Newsletters Mobile About Privacy Policy Terms of Use AdChoices Copyright Our Flagship financial information platform incorporating Reuters Insider An ultra-low latency infrastructure for electronic trading and data distribution A connected approach to governance, risk and compliance Our next generation legal research platform Our global tax workstation Thomsonreuters.com About Thomson Reuters Investor Relations Careers Contact Us Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests. NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.

Other News on Tuesday, 9 October 2012
Liberian Nobel laureate quits over government corruption |
Egypt's Mursi pardons political prisoners |
Analysis: Iran government likely to win battle of wills over currency |
London Mayor upstages PM Cameron at party conference |
Senator works on tighter U.S. sanctions for Iran |
Thousands of Greek protesters tell Merkel she is not welcome |
Eritrea calls for lifting of sanctions, rejects U.N. accusations |
Facebook pitches new $20 million Sponsored Stories settlement |
Facebook partners with retailers to test want button |
If Internet governance ain't broke, don't fix it: U.S. |
Danny DeVito, Rhea Perlman split after 30-year marriage |
Wizard of Oz dress set for auction, could fetch $500,000 |
Dexters Michael C. Hall takes a turn toward dark laughs |
Girls creator Lena Dunham signs advice book deal |
Creator of Sopranos back with rock'n'roll tale |
Lost diaries help solve young Mona Lisa mystery |
Isolated North Korea says its rockets can hit U.S. mainland |
Insight: Growth crisis exposes burden of French largesse |
Italy's Berlusconi says may not stand in 2013 election |
Suicide bombers hit Syria security complex: rebels |
UK PM will not soften austerity despite IMF growth cut |
U.S. diplomatic security unit under scrutiny after Libya attack |
Afghan addicts help run daring new restaurant in Kabul |
Mexico says marines may have killed top Zetas drug lord |
Insight: Frugal Amazon opens checkbook for streaming video |
Zynga executive overseeing key poker game departs |
Exclusive: Intel's McAfee security plans layoffs |
Telefonica targets retailers with street smart data |
San Francisco's car-sharing services flourish despite regulators |
U.S. report dashes China telecoms' expansion hopes |
Hacker group says attacks Greek official websites |
Esquire names Mila Kunis sexiest woman alive |
Danny DeVito, Rhea Perlman split after 30-year marriage |
Thriller Taken 2 grabs movie box office crown |
Eleven euro states back financial transaction tax |
Syria clashes intensify near Turkey border |
Body of slain Mexico top drug lord stolen: prosecutor |
Taliban shoot 14-year-old Pakistani peace campaigner |
Huge ammunition explosion rocks Russian city |
Iran budget under pressure, Ahmadinejad says |
China rejects U.S. accusations against telcoms firms |
France's Hollande wins left-wing backing on fiscal pact |
Chilean Catholic bishop accused of abuse resigns: Vatican |
About one third of South African truckers end strike |
China rejects U.S. accusations against telcoms firms |
Twitter's Jack Dorsey cuts back on executive chairman role |
ST-Ericsson parents say working with advisor on strategy |
Indian IT services may see uptick in client spending |
London art bonanza looks to past to bolster future |
Elle Fanning becomes British '60s teen in new Sally Potter film |
Rushdie film to get India release despite protests |
Tokyo to NYC street-life shines in Tate photo show |
World Chefs: Phan shares food, journey from Vietnam |
Greece at new risk of being pushed off euro
Bodies of missing Tenn. mom, Jo Ann Bain, and daughter found
Female Breasts Are Bigger Than Ever
AMD Trinity Accelerated Processing Units Now in Volume Production
The Avengers (2012 film), made the second biggest opening- and single-day gross of all-time
AMD to Start Production of piledriver
Ivy Bridge Quad-Core, Four-Thread Desktop CPUs
Islamists Protest Lady Gaga's Concert in Indonesia
Japan Successfully Broadcasts an 8K Signal Over the Air
ECB boosts loans to 1 trillion Euro to stop credit crunch
Egypt : Mohammed Morsi won with 52 percent
What do you call 100,000 Frenchmen with their hands up
AMD Launches AMD Embedded R-Series APU Platform
Fed Should not Ignore Emerging Market Crisis
Fed casts shadow over India, emerging markets
Why are Chinese tourists so rude? A few insights

USD EUR - 1 year graph		BlogMeter 1.01