EU WHAT?

The Eurocrats have done it again.

Showing a canny lack of logic, they have, to quote Baldrick, come up with a cunning plan.

At a time when the pips are being squeezed everywhere, the EU has proposed not only a rise of 5% in their budget but also a Tobin Tax.

Yep, one of the engines of recovery for Europe in the shapes of Frankfurt and the City are going to get hit by a trading tax.

Although the individual amounts may be miniscule it all soons adds up and do you think major players are going to keep full trading here rather than going to another country?

The problem with Tobin taxes is that they will never work unless all territories, and I mean all territories, adopt the tax.

If this goes through, the playing field has become extremely uneven for European players.