Assumption Of The Eu: A Tax On Banks

By Author: Italo Zanotti
Total Articles: 62
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The European Union plans to introduce a tax on banks to recover the aid given to the financial sector - modeled on the decision announced by Obama in the U.S. - Ecofin lands on the table. A formally put the issue was the Swedish economy minister, Anders Borg, who wrote a letter to the current Chairman of Ecofin, Elena Salgado, requested that the proposed program of the Spanish Presidency of the EU.
"A tax on bank balance sheets has more logic of a tax on financial transactions, because the financial statements can not be outsourced," said Borg, stressing that such a tax in Sweden already in existence since 2009. "Furthermore - he added the former chairman of Ecofin - it is an approach that brings many benefits, because such a tax may help us in our efforts to consolidate the financial statements, as well as giving legitimacy to measures for banks in the eyes of 'public opinion'. The Swedish minister insists that the issue is addressed by Ecofin.
So far the idea of extending the "model Obama" to the EU (in the U.S. will be taxed the first fifty banks) has met with more skepticism than enthusiasm. "It's not that they ...
... are biased - said the president of the Eurogroup, Jean-Claude Juncker, the Luxembourg - but a tax of this kind is very difficult to implement in Europe, since the tax is strictly the responsibility of Member States'. "President Obama - said Juncker - has certainly every reason to propose the measures it deems most appropriate. And I have no preconceived idea about the idea of a European tax. But I think it is very difficult - he added - a common approach between Member States of the EU on this matter, if only for the fact that the sphere of taxation falls within the scope of national powers. " Juncker has been explained that the sixteen ministers of the eurozone, which will meet Monday in Brussels, "will exchange views on this point," reviewing the decision made in the USA.
A "no" dry is instead arrived from the United Kingdom, the Chancellor of the Exchequer, Alistair Darling, who has rejected the idea of imitating the decision announced in the U.S. and said he was convinced instead to go ahead with the bonus of superlevy bank managers as did also the France of Nicolas Sarkozy. One approach, the latter, that London and Paris would be extended to the whole EU, but is facing opposition from some states, including Germany. The idea of taxing the banks' balance sheets is rather enjoyed the Spanish Prime Minister and President of the EU, Jose Luis Zapatero, who may now decide to give an important impetus to the proposal.
Tremonti wants clarity sull'euroritenuta
Yesterday the Italian Economy Minister Giulio Tremonti, has threatened to veto on tax issues in Europe if Brussels does not make clear how far the system has worked dell'euroritenuta. "Italy - explained the Minister - has asked the EU Commission a report on what it deserves, because there seem to be what had been recognized by countries that we have the interest payments." "I told the Commission - he added -" I want my money back, "I want my money back. Why I do not think there is a symmetry between the amount of capital Italians in Austria or Luxembourg and interest payments that these two countries we pay. " "Now - he concluded - expecta-resent the data. And if we are not satisfied that we could not exclude recourse to the veto again.
Photo: Jean-Claude Juncker