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Tuesday, October 23, 2012, 15:14
EU Commission backs 10 countries' transaction tax plan, Malta stays out
The European Commission today threw its support behind a plan by 10 eurozone countries to use a single rule to tax transactions by financial institutions as a way of contributing to the cost of the sovereign debt crisis.
Malta is among those countries oppositing the plan.
Support for the harmonised financial transaction tax (FTT) could open another rift in Europe, where countries already diverge in their regulation of finance and where politicians have long argued over how best to control banks.“I am delighted to see that 10 member states have indicated their willingness to participate in a common FTT along the lines of the Commission's original proposal,” Jose Manuel Barroso, president of the EU executive, said in a statement.
“This tax can raise billions of euros of much-needed revenue for member states in these difficult times. This is about fairness: we need to ensure the costs of the crisis are shared by the financial sector instead of shouldered by ordinary citizens,” he said.
The 10 countries are France, Germany, Austria, Belgium, Greece, Italy, Portugal, Slovakia, Slovenia and Spain.
They decided to push on with the introduction of the single tax after the idea, which was first floated by the Commission in September 2011, failed to win unanimous support among the EU's 27 member states in June.
To go ahead without the support of all 27, at least nine countries had to support it, enabling a legal process called enhanced cooperation, which makes it possible for only some member states to implement it.In September 2011, the Commission estimated that the harmonised tax would deliver 57 billion euros ($74.5 billion) in revenues each year.
It proposed the charge should be imposed at a rate of 0.1 percent on the trading of bonds and shares and 0.01 percent for derivatives deals.
The plan by the 10 countries will now have to be accepted, via a qualified or enhanced majority vote, by the EU's members and get the support of European Parliament.The Commission will prepare a new proposal for the tax, which will be based on last year's ideas, but adjusted to a membership of just the 10, rather 27 countries.
Widely known as a Tobin tax, after Nobel-prize winning U.S. economist James Tobin who proposed one in 1972 as a way of reducing financial market volatility, the levy has become a political symbol as the debt crisis shakes the continent.
Proponents first tried to introduce the tax worldwide in 2008 via the Group of 20 major economies.
Faced with U.S., Swiss and Chinese opposition, they tried to persuade the 27-member European Union to lead the way, or even the 17-nation euro zone. But each group had its sceptics.
Following an aborted attempt to introduce its own such levy in the mid-1980s, Sweden has repeatedly warned that introducing the tax will simply drive trading elsewhere.Malta argues that the FTT will undermine its financial services centre. Britain, home to the region's biggest financial centre, London, will also not join.
Nobody knows who the 10 kings will be UNTIL they finally unite. And even though prophecies strongly suggest there is but a very short time to go , never forget this : Even a mere one year is a long time in politics!!
Notice it was first proposed as a WORLDWIDE tax!!
And like myself and my two other brethren have said before…expect the 10 kings to FIRST be the BLUEPRINT or TEMPLATE or TEST TUBE for their SYSTEMS eventual EXPANSION into a WORLDWIDE system.
We have been saying these things for years now, and it all seems to be fitting in just nicely and accelerating at just the right pace and just the right time frames to be 100% in line with our scriptural reading.
And as I said, these 10 players may yet change before then to include other countries not yet involved in the initial 10…some may drop out and be replaced…OR….THREE may go totally bankrupt and even find themselves ABSORBED into other member states (Greece becomes part of Germany for example…radical I know, but Greece is standing on the edge of a very high cliff at the moment with its citizens facing the possibility of mass starvation as reported by several news outlets or even the break up of the country itself! If its options are limited and the circumstances dire enough, who knows but God, what COULD happen.)So as we have been saying for years now, and by our prophetic clock which we have NOT once needed to “reset” unlike so many before us, expect to see THE false prophet himself with your own eyes within 2 1/2 years & rising to popularity with his wonderous words and miracles on your very own TV screens.
Don't say you weren't warned!Rev.17:17. For God has Put it in their hearts to fulfil his will, and to AGREE, and GIVE THEIR KINGDOM unto the BEAST,UNTIL THE WORDS OF GOD SHOULD BE FULFILLED.
wakeup.
Quote (Ed J @ Oct. 28 2012,10:16) it's the “thought” that counts?
EdJ.The final agreement will be only 10 kings agreeing to work for the on purpose,as God says.
THEN; the false prophet will come up(little horn)and take control with his lying wonders and power of satan.
Just wait for 2–3yrs. You will see his face on tv.
The world will love him. But not you,for you have been informed.wakeup.
Quote (Ed J @ Oct. 28 2012,10:16) it's the “thought” that counts?
Ed,What I meant was, that this idea of unification is grown from economic desperation…the “thought that counts” meaning that the coming unification is economically minded for the sake of preserving national relevance.
So what is the reason behind this “need” to unify?
The thinking behind the need of unity?
See…the “thought that counts” !!Which btw, so happens to be what the mark is related to…buying and selling!
Doesn't buying and selling come under the definition of economic participation?
And isn't economic security also tied to national security?
Aren't these concepts?
Aren't concepts derived from thoughts?Cheers Ed.
Hi Devolution,
So it is the thought that others believe that the mark is a chip that counts?
God bless
Ed J (Joshua 22:34)
http://www.holycitybiblecode.orgQuote (Ed J @ Oct. 30 2012,07:29) Hi Devolution, So it is the thought that others believe that the mark is a chip that counts?
God bless
Ed J (Joshua 22:34)
http://www.holycitybiblecode.org
Edj,It's called staying awake. We had no idea that it would be a chip 20 years ago, or even 10, but we knew there would be something in the right hand, or in the forehead. We thought maybe a tattoo laser on the skin, or something like that, but realised later that it says “IN THE HAND” not on the hand.
So like mobile phones, and the internet, the chip is new technology to us, not the inventors, and is slowly being introduced as a form of identification. The next step is that it will be used for transactions also. This is not made up, this is happening in the real world. So put two and two together what it's leading to. It says NO MAN can buy or sell, but he that has the mark of the beast. It's talking about trade here, not worship.
Hi Georgie,
Are you aware that no man may buy or sell in islamic countries,
unless they openly profess to being a muslim? Did you know that?God bless
Ed J (Joshua 22:34)
http://www.holycitybiblecode.orgQuote (Ed J @ Oct. 30 2012,09:53) Hi Georgie, Are you aware that no man may buy or sell in islamic countries,
unless they openly profess to being a muslim? Did you know that?God bless
Ed J (Joshua 22:34)
http://www.holycitybiblecode.org
EdJ.Not only in the muslem world; but ALL.
ALL MEANS ALL, the pupulation of this planet.
And this includes you.wakeup.
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