The Robin Hood tales are still actual. A confirmation of that is a new legislative proposal of the European Central Bank. The ECB's Board is planning to regulate the process of taking capital from the rich depositors in order to give it to the richer ones. The bank's specialists are intending to improve the law on the financial operations levy. This tax on the international banking transactions, which will be levied in favor of the developing countries, is named the Robin Hood tax. The European authorities have been discussing this measure since 2009. In 2011 this initiative was supported by Jose Manuel Barroso.
The ECB believes that this law still needs some refinements, otherwise there is a real threat to the financial stability of the most European countries. One of the arguments against the law enforcement is a decrease in the tax revenue. The experts have already counted that the budget will be missing about €116 bln. Despite that fact, the Robin Hood tax supporters are sure that it will provide significant cash inflow and increase the bankers’ responsibility.
The European Commission had already allowed some EU countries to pass this law. So the results of this sort of experiment will determine the crucial decision.
