The idea of single eurozone government bonds is doomed to fail if there is no proper political and economic coordination, unity and balance between the Union members. Do you see such coordination and unity? Modern eurozone is economic and political Frankenstein. It is said they can challenge US Treasuries and become more liquid financial instrument? [...]
The idea of taxation on financial transactions, in particular global, is utopia like the search for Atlantis. Administration costs, global market discrepancies and complex nature and interconnectedness of the modern financial industry must be considered. Moreover, the implementation of the solution heavily depends on the tight coordination between parties. Who will collect the tax? What [...]
I discussed the subject of financial transactions tax in the previous year and in my year-end message 2009. In then discussions I was pondering on the combination of the bank mezzanine (conditional or event-driven) capital which can be used as the temporary capital and liquidity booster and the insurance model for systemic shock events in [...]
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