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A Tobin Tax for Europe March 13 2012, 0 Comments

A Tobin tax is a special tax on currency transactions, designed to penalise excessive short-term speculation in currency markets. Advocates have long argued that in order to reduce speculation and instability in financial markets some form of transaction tax should be imposed on a range of financial transactions. Initially referred to as a securities transaction tax, it is more formally known today as a Financial Transactions Tax (FTT), or less formally a Robin Hood tax.