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A free floating commentary on culture, politics, economics, and religion based on a passionate commitment to the truth and a desire graciously to refute that which is contrary to it….
"He must hold firm to the sure word as taught, so that he may be able to give instruction in sound doctrine and also to confute those who contradict it."
--Titus 1:9, Revised Standard Version
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The commission’s own research shows that such a tax would have a negative impact on growth: Algirdas Semeta, the European commissioner for taxation, said this week that it would cut GDP across the EU by about 0.5 per cent. At a time when Europe is struggling to grow at all – and when growth is essential to dragging its economies out of the mire – this would be a crippling reverse.
One would have thought that this assessment would be enough to kill the idea stone dead – especially since the Government has made it clear that Britain will veto the plan, since such a tax would only make sense if it were introduced globally, to avoid a mass exodus of financial institutions from the area affected. Mr Barroso, however, has other ideas....
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Filed under: * Economics, Politics Economy Credit Markets Currency Markets Euro European Central Bank Stock Market Taxes The Banking System/Sector The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- * International News & Commentary England / UK Europe
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