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The dome of the Capitol is reflected in a puddle in Washington February 17, 2012.REUTERS/Kevin Lamarque

Another debt ceiling debacle could sink the economy

Last year's Congressional debt standoff hurt consumer confidence more than the collapse of Lehman Brothers, Betsey Johnson and Justin Wolfers write. This time could be worse.  Read more at Counterparties  

Monti says Italy backs Tobin tax but urges unity

PARIS | Fri Jan 6, 2012 5:09pm EST

PARIS (Reuters) - Italy supports the idea of a financial transaction tax but is against countries introducing the measure unilaterally, Prime Minister Mario Monti said on Friday, after France said it could go alone with a so-called "Tobin tax."

Monti said following talks with French Prime Minister Francois Fillon in Paris that Italy's government was now in favor of the tax, but said it was important to have a unified position. "We need a European standpoint which we all work towards," he said.

France, which is struggling to get Europe-wide backing on the issue, says it wants to take a decision on a financial transaction tax by the end of January and is ready to push ahead with the measure alone even if Germany does not follow suit.

(Reporting by Yann LeGuernigou; Writing by Vicky Buffery; Editing by Catherine Bremer)
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Comments (2)
breezinthru wrote:
I just want to go on record as also favoring a Tobin Tax for the US.

Jan 06, 2012 12:55pm EST  --  Report as abuse
Foreign wrote:
I would like to go on record favouring the US tax because our countries would welcome the relocation of YNC, Chicago businesses to the expanding Asian region. The tax would further ruin America unfortunately, not give you any revenue as it is a counter-productive measure. US loss would be Asia’s gain. Thank you.

Jan 07, 2012 11:45pm EST  --  Report as abuse
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