Effectively taking money out of British banks and giving it to EU banks.

If the money was to be returned to the taxpayers (US) I would say yes to a small tax but we are talking about taxing the banks to bail out an ill concived currency that we are not even part of (And wasn't that a good call!!).
A currency that didnt even do due dilligence on all of its members (How Greece got in I will never know something they have now found out to their cost), Why should we risk 10% of our GDP on that?

The UK has now effectively taken its football home from the playground and said it doesnt want to play with the other boys and girls unless it does what it wants.

The other boys and girls of course have access to their own football and will play on regardless.

The UK will therefore be forced to stand alone with no friends, or else come crawling back to the playground and agree to play the games that all the other boys and girls have decided upon.

For me this is Camerons Chamberlain moment, he will return home saying he has saved Britain, when in reality he has just delayed the inevitable.

Welcome to LITTLE BRITAIN

Yep.

How has he?
Any change to our version of the EU treaty requires a referendum that is on the statute books.
We all know what the outcome of that will be.

That is why successive governments have been so reluctant to call one.

Oh and BTW last time I checked Switzerland wasn't in the EU and they have a higher percentage of their GDP being exports than we do.

Also as of me writing this we are still the 6th biggest economy in the world so maybe we are not so little eh!

I'm entirely in favour of a transaction tax – but if enacted in the UK, it should be used to pay off the deficit and fund growth-boosting projects (and avoid the cuts that, apart from anything else, increase unemployment).

Most of the banks trading out of the City are not British they are foreign owned. The money made is repatriated to offshore tax havens or to the USA.

I support a financial tax on the city. Its a disgrace that those who caused the crises should not have to pay for it. We are the 99%

The Europeans know that it is the casino banking system based in the UK that has corrupted the individual nations like Greece, by selling them usurious loans that have now destroyed their economies.

The Financial transaction tax is nothing more than a war reparation.

So basically, Germany and France are the big cheeses and the rest are useless mickey mouse states ( Ireland especially), whom France and Germany wanted to screw and be in- debted to?

That includes us.



Then again, there's the little case of Goldman Sachs managing to pass the accounts of Greece so that it could enter the euro on a false basis.

And the fact that the EU effectively enshrines neo-liberalism.

And the other – and not remotely unrelated – fact that Merkel and Sarkozy were certainly looking at applying rules that would, in effect, ban Keynesian economic solutions.

And the other point that without any (as far as I know) political interference from the UK on this score, countries are now putting unelected bankers in charge.

I'm undecided on that.
The new tax would be 0.05%.
We already charge 0.5% stamp duty ... so the total would be 0.55% .

Can't see that would drive everyone overseas.

Yes
We are not in the Euro so would have not benefited from the cash this would have raised.
So we would have risked 10% of our GDP for no gain what so ever.
Sounds like a good call to me.
Infact we may get banks hoping ovet the channel to get away from it.