Brochures for a second house in the Swiss alps are taking a lot of space on my coffee table lately. Even checked the availability of “zugtrader.ch”. As of monday I’ve been seriously worried about this Financial Transaction Tax – with Merkel lining up behind Sarkozy and his pledge for the Tobin Tax. Sure, such a tax wouldn’t be rational and damage a fragile economy – but don’t count on French politicians to behave economical.
Would be kind of a nuclear option ; all derivative trading would vanish. Sure, large firms such as Optiver and IMC would survive elsewhere – but trading in Europe would be wiped off the map. Therefore, good to read the “Loch Ness Monster” will disappear again. Merkel was only sharing her personal opinion monday. She should start a website for personal opinions. Zugtrader.ch is still free.