Europe is moving ahead with plans for a financial speculation tax – a small levy on securities and other financial trades designed to raise revenue, get the big banks to pay their fair share, and nudge the financial world away from reckless bets toward job-creating private and public investment.
11 EU nations have already agreed to adopt a speculation tax. Just this week, the topic was on the agenda of a meeting between German Chancellor Angela Merkel and French Francois Hollande. Public support is also growing: more than 300 organizations, representing over 70 million European citizens, have signed appeals for the EU nations to press ahead – and for the United Kingdom, the most conspicuous holdout so far, to get on board.
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