In 1992 Nobel Prize-winning economist James Tobin suggested a tax on currency operations 'to throw some sand in the wheels of speculation'. Interest in the proposal has now been re-kindled as governments search for 'a new international financial architecture'. A Tobin Tax would penalise...

This article analyses the European Commission's Proposal for Financial Transaction Tax with transaction taxes currently implemented in Member States of the European Union. The features identified for this purpose include transactions liable to tax, recognition of legal title, the tax base,...

We argue that a financial transaction tax complements financial market regulation. With the tax, governments have an additional instrument at hand to influence trading activity. FTT aims to reduce regulatory arbitrage, flash trading, overactive portfolio management, excessive leverage and...

Based on the sensitivity of the European financial markets highlighted by the last financial crisis, the European Union is pushing for reforms of the existing regulatory framework and has also proposed a financial transaction tax. Until now, the European Union has already adopted a Regulation on...