This is my latest Perspective column for Fund Strategy. The financial transaction tax (FTT) is an old idea suddenly being debated with new venom. For a long time it was simply a theoretical proposal that might be implemented at some distant point in the future. In the past two months it has become the focus [...]

Supporters of the eurozone project generally prefer to sidestep any discussion of the intrinsic weaknesses of the monetary bloc. The European Commission (EC) proposal for eurobonds amounts to embodying this evasion of hard arguments into a new form of debt. In principle the idea of eurobonds is simple. National debt issuance should be replaced by [...]