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Bank Taxes in Europe

Author

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  • Márk Fenyő

    () (University of Miskolc)

Abstract

The ongoing international financial crisis plays a decisive role in our daily lives. As in the previous century, the problem began in the United States and spilled over from there to the member states of the European Union. The history and causes of the crisis between 1929 and 1933 is well known. It seems that we were unable learn from this. The current crisis has no respect for national borders or boundaries of continents. Its effects and treatment measures vary from country to country, depending on how unprepared the country was for the crisis. In the public opinion, banks are responsible for the outcrop of the crisis. In the European Union there is great popular support for the idea that banks should cover a significant part of the liabilities because of causing the crisis. For this reason, and to improve the balance of their budgets, many states in the EU are thinking about imposing a bank tax. This study examines the justification for and the possibilities of bank taxes.

Suggested Citation

  • Márk Fenyő, 2012. "Bank Taxes in Europe," Theory Methodology Practice (TMP), Faculty of Economics, University of Miskolc, vol. 8(01), pages 13-17.
  • Handle: RePEc:mic:tmpjrn:v:8:y:2012:i:01:p:13-17
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    File URL: http://tmp.gtk.uni-miskolc.hu/volumes/2012/01/TMP_2012_01_02_feny___mark.pdf
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    More about this item

    Keywords

    crisis; bank tax; European Union;

    JEL classification:

    • G01 - Financial Economics - - General - - - Financial Crises
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • H12 - Public Economics - - Structure and Scope of Government - - - Crisis Management

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