"Hostilities kicked off last week when Angela Merkel and Nicholas Sarkozy redoubled efforts to harmonise EU tax rates and levy a tiny financial transaction tax on financial trades of around 0.05%.
The French and German leaders united in a twin track attempt to recoup the hundreds of billions of euros spent bailing out failed banks and the bankrupt national economies of Portugal, Ireland and Greece. They were also driven to reassert a semblance of authority over financial markets.
Death knell of the financial sector?The City lobbying machine went into overdrive in a ferocious attempt to garner support from David Cameron’s government, against the proposals that they, rather dramatically, claim will kill the country’s financial sector"............READ MORE
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