... IMF bailouts provide a brief respite for international investors but they are, even from the perspective of the wealthy, a short-term solution at best ... they leave countries with more debt and fewer options. Wird dieses Geld plötzlich zurückgezogen, müssen die Länder die Zinsen drastisch anheben, damit die Währung attraktiv bleibt.
(This is in addition to the many countries that have foreign exchange controls.). En 2009, Adair Turner, président de l'autorité britannique des services financiers (FSA) et ancien dirigeant de la confédération de l'industrie britannique (CBI), se prononce en faveur d'une telle taxe[35],[36],[10]. L'Association pour la taxation des transactions financières et pour l'action citoyenne (Attac) a été créée en France en 1998 pour promouvoir l'idée de la taxe Tobin. [83][84] Lanne and Vesala (2006) argue that a transaction tax "is likely to amplify, not dampen, volatility in foreign exchange markets", because such tax penalises informed market participants disproportionately more than uninformed ones, leading to volatility increases. Tobin's more specific concept of a "currency transaction tax" from 1972 lay dormant for more than 20 years but was revived by the advent of the 1997 Asian Financial Crisis. [85], In most of the available empirical studies however, no statistically significant causal link has been found between an increase in transaction costs (transaction taxes or government-controlled minimum brokerage commissions) and a reduction in volatility—in fact a frequent unintended consequence observed by 'early adopters' after the imposition of a financial transactions tax (see Werner, 2003)[86] has been an increase in the volatility of stock market returns, usually coinciding with significant declines in liquidity (market volume) and thus in taxable revenue (Umlauf, 1993). Ce dernier prévoit de taxer l’achat d’actions et d’obligations à hauteur de 0,1% et 0,01% pour les produits dérivés à l’horizon 2014. Il précise : « Il s'agirait d'une taxe internationale uniforme convenue, administrée par chaque gouvernement sur sa propre compétence. Because of its restriction to so-called "harmful high-frequency trading" rather than to inter-currency transactions, neither of Clinton's proposals could be considered a true Tobin tax though international exposure would be a factor in the "risk fee". Avec une crise de la dette souveraine européenne de plus en plus menaçante, le président français a dans le viseur le secteur de la finance, qui selon lui, est l’un des coupables des différentes crises. This [ proposed financial transaction tax ] legislation will force Wall Street to do their part and put people displaced by that crisis back to work."[102]. ATTAC and other organizations have recognized that while they still consider Tobin's original aim as paramount, they think the tax could produce funds for development needs in the South (such as the Millennium Development Goals),[46] and allow governments, and therefore citizens, to reclaim part of the democratic space conceded to the financial markets. The tax would only impact financial transactions between financial institutions charging 0.1% against the exchange of shares and bonds and 0.01% across derivative contracts. [67], According to Stephen Spratt, "the revenues raised could be used for ... international development objectives ... such as meeting the Millennium Development Goals. [8] and economic thought was tending to reject the belief that they could not be differentiated, or (as the "Chicago School" had held) should not be. Selon les analyses de l'Institut Rousseau et de Mediapart, la France fait partie des principaux opposants à l'instauration d'une taxe sur les transactions financières efficace, c'est à dire apportant plus de seulement quelques milliards de recettes.
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