Will the Financial Transaction Tax (FTT) enhance stability?:
Saved in:
| Main Author: | |
|---|---|
| Format: | Electronic eBook |
| Language: | English |
| Published: |
Brussels [Belgium]
CEPS Centre for European Policy Studies
2011
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| Subjects: | |
| Online Access: | BSB01 |
| Item Description: | In all likelihood, the European Commission's proposed tax on financial services, the financial transactions tax (FTT), will raise size-able tax revenues, which explains its political appeal in the current context. However, the tax fails to address the key factors that contributed to the global financial crisis. Short of global or even EU-wide cooperation, many of the transactions subject to a tax will relocate to non-cooperating countries, thereby reducing revenue prospects and the effectiveness of supervision. Moreover, the proposal fails to address the growth of leverage, systemic risks, or the moral hazard risks arising from 'too-big-to-fail' or 'too-systemic-to-fail' institutions. Even if it becomes a reality, the proposal should not undermine the chances of more meaningful tax policy alternatives being implemented in the future |
| Physical Description: | 1 Online-Ressource (5 Seiten) |
Staff View
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| index_date | 2024-07-03T23:12:48Z |
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| language | English |
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| spelling | ARBAK, Emrah Verfasser aut Will the Financial Transaction Tax (FTT) enhance stability? Emrah ARBAK Brussels [Belgium] CEPS Centre for European Policy Studies 2011 Frankfurt M. CEEOL 2011 1 Online-Ressource (5 Seiten) txt rdacontent c rdamedia cr rdacarrier In all likelihood, the European Commission's proposed tax on financial services, the financial transactions tax (FTT), will raise size-able tax revenues, which explains its political appeal in the current context. However, the tax fails to address the key factors that contributed to the global financial crisis. Short of global or even EU-wide cooperation, many of the transactions subject to a tax will relocate to non-cooperating countries, thereby reducing revenue prospects and the effectiveness of supervision. Moreover, the proposal fails to address the growth of leverage, systemic risks, or the moral hazard risks arising from 'too-big-to-fail' or 'too-systemic-to-fail' institutions. Even if it becomes a reality, the proposal should not undermine the chances of more meaningful tax policy alternatives being implemented in the future Economic policy EU-Accession / EU-DEvelopment Fiscal Politics / Budgeting Central and Eastern European Online Library Sonstige oth |
| spellingShingle | ARBAK, Emrah Will the Financial Transaction Tax (FTT) enhance stability? Economic policy EU-Accession / EU-DEvelopment Fiscal Politics / Budgeting |
| title | Will the Financial Transaction Tax (FTT) enhance stability? |
| title_auth | Will the Financial Transaction Tax (FTT) enhance stability? |
| title_exact_search | Will the Financial Transaction Tax (FTT) enhance stability? |
| title_exact_search_txtP | Will the Financial Transaction Tax (FTT) enhance stability? |
| title_full | Will the Financial Transaction Tax (FTT) enhance stability? Emrah ARBAK |
| title_fullStr | Will the Financial Transaction Tax (FTT) enhance stability? Emrah ARBAK |
| title_full_unstemmed | Will the Financial Transaction Tax (FTT) enhance stability? Emrah ARBAK |
| title_short | Will the Financial Transaction Tax (FTT) enhance stability? |
| title_sort | will the financial transaction tax ftt enhance stability |
| topic | Economic policy EU-Accession / EU-DEvelopment Fiscal Politics / Budgeting |
| topic_facet | Economic policy EU-Accession / EU-DEvelopment Fiscal Politics / Budgeting |
| work_keys_str_mv | AT arbakemrah willthefinancialtransactiontaxfttenhancestability AT centralandeasterneuropeanonlinelibrary willthefinancialtransactiontaxfttenhancestability |