What Price Financial Stability? Evaluating the European Union Financial Transactions Tax
Virginia Journal of International Law Digest, Vol. 55, pp. 1-12
12 Pages Posted: 6 Aug 2013 Last revised: 6 Aug 2014
Date Written: August 4, 2014
Five years after the onset of the global financial crisis, Europe’s financial system remains vulnerable to systemic threats. As part of continuing reform efforts, the European Commission has proposed levying a tax on financial transactions such as sales or exchanges of securities. This Essay argues that the proposed tax does little to solve the problems of financial instability in Europe and that the tax threatens to undermine concurrent regulatory efforts to improve financial stability.
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