Editing Tobin tax (section)

====European idea for a 'first Euro tax'====
In late 2001, a Tobin tax amendment was adopted by the [[French National Assembly]]. However, it was overturned by March 2002 by the [[French Senate]].<ref name="Fougier">{{cite web|url=http://www.ifri.org/files/policy_briefs/policy_2_fougier_ang.pdf |title=The French Antiglobalization Movement: a New French Exception? |author=Eddy Fougier |date=Spring 2003 |publisher=Institut Francais des Relationes Internationales |url-status=dead |archive-url=https://web.archive.org/web/20110920065633/http://www.ifri.org/files/policy_briefs/policy_2_fougier_ang.pdf |archive-date=2011-09-20 }}</ref><ref name="Kim">{{cite web|title=The Tobin tax revisited in the context of global governance on capital markets |author1=Kwan S. Kim  |author2=Seok-Hyeon Kim  |name-list-style=amp |page = 30|date=December 2003 |work=The Role of International Institutions in Globalization: The Challenges of Reform (edited by John-ren Chen) |publisher=Edward Elgar Publishing}}</ref><ref name="Ben-Ami">{{cite web|url=http://www.spiked-online.com/index.php/site/article/8184/ |title=Tobin or not Tobin? |author=Daniel Ben-Ami |date=March 25, 2002 |publisher=spiked |url-status=dead |archive-url=https://web.archive.org/web/20110622005912/http://www.spiked-online.com/index.php/site/article/8184/ |archive-date=June 22, 2011 }}</ref>

On June 15, 2004, the Commission of Finance and Budget in the Belgian Federal Parliament approved a bill implementing a [[Spahn tax]].<ref>{{cite web |url=http://www.wiwi.uni-frankfurt.de/profs/spahn/pdf/publ/7-041.pdf |title=International Financial Flows and Transactions Taxes: Survey and Options |author=Paul Bernd Spahn |date=June 16, 1995 |publisher=University of Frankfurt/Main; Paper originally published with the IMF as Working Paper WP/95/60. |access-date=2010-01-13 |author-link=Paul Bernd Spahn |archive-url=https://web.archive.org/web/20101011143915/http://www.wiwi.uni-frankfurt.de/profs/spahn/pdf/publ/7-041.pdf |archive-date=October 11, 2010 |url-status=live }}</ref> According to the legislation, Belgium will introduce the Tobin tax once all countries of the [[eurozone]] introduce a similar law.<ref>[[European Central Bank]] (2004). [http://www.ecb.int/ecb/legal/pdf/en_con_2004_34_f_sign.pdf Opinion of the European Central Bank (CON/2004/34)] {{Webarchive|url=https://web.archive.org/web/20071122200842/http://www.ecb.int/ecb/legal/pdf/en_con_2004_34_f_sign.pdf |date=2007-11-22 }}</ref> In July 2005 former Austrian chancellor [[Wolfgang Schüssel]] called for a European Union Tobin tax to base the communities' financial structure on more stable and independent grounds. However, the proposal was rejected by the [[European Commission]].

On November 23, 2009, the [[President of the European Council]], [[Herman Van Rompuy]], after attending a meeting of the [[Bilderberg Group]] argued for a European version of the Tobin tax.<ref name="Moran">{{cite news |url=http://m.digitaljournal.com/article/282585?doredir=0&noredir=1 |title=Europe's first President calls for Euro tax, Euro identity |author=Andrew Moran |date=November 23, 2009 |work=Digital Journal |access-date=2010-01-29 |archive-url=https://web.archive.org/web/20110710124932/http://m.digitaljournal.com/article/282585?doredir=0&noredir=1 |archive-date=July 10, 2011 |url-status=live }}</ref><ref>{{cite web |url=http://www.independent.ie/national-news/eu-president-wants-to-see-a-new-euro-tax-1950730.html |title=EU president wants to see a new Euro tax |author=Daniel McConnell |date=November 22, 2009 |publisher=Independent.ie |access-date=February 20, 2010 |archive-url=https://web.archive.org/web/20100227093851/http://www.independent.ie/national-news/eu-president-wants-to-see-a-new-euro-tax-1950730.html |archive-date=February 27, 2010 |url-status=live }}</ref> This tax would go beyond just financial transactions: "all shopping and petrol would be taxed.".<ref name="Moran" />
Countering him was his sister, Christine Van Rompuy, who said, "any new taxes would directly affect the poor".<ref>{{cite news |url=http://www.express.co.uk/posts/view/141143/Belgian-PM-Herman-Van-Rompuy-called-clown-by-sister-Christine |title=Belgian PM Herman Van Rompuy called clown by sister Christine |author1=Macer Hall |author2=Alison Little |name-list-style=amp |date=November 19, 2009 |newspaper=Daily Express |access-date=2010-01-29 |archive-url=https://web.archive.org/web/20091124012141/http://www.express.co.uk/posts/view/141143/Belgian-PM-Herman-Van-Rompuy-called-clown-by-sister-Christine/ |archive-date=November 24, 2009 |url-status=live }}</ref>

On June 29, 2011, the European Commission called for Tobin-style taxes on the EU's financial sector to generate direct revenue starting from 2014. At the same time it suggested to reduce existing levies coming from the 27 member states.<ref>{{cite news |url=https://www.theguardian.com/world/2011/jun/29/ec-proposes-tobin-style-taxes |title=EU calls for 'Tobin' tax in a move to raise direct revenue |author=Ian Traynor |date=June 29, 2011 |newspaper=The Guardian |access-date=2011-06-29 |archive-url=https://web.archive.org/web/20130930114734/http://www.theguardian.com/world/2011/jun/29/ec-proposes-tobin-style-taxes |archive-date=September 30, 2013 |url-status=live }}</ref>