The introduction in Italy of the tax on financial transactions is a mean to impose a more substantial contribution to government finances. It is likely to have a significant and uncertain impact on the households’ propensity to save and on businesses sources of funding

The debate on new rules currently focuses on two major questions. On the one hand the process of reform of the prudential regulation of banks (Basel 3), coming to an end after the Seoul G20 approval of Basel Committee proposals. On the other hand, particularly in Europe, the discussion on the...