Despite problems reaching a broad consensus that would avoid creating market havens through the EU (and internal strife arising from coalition party factions in Germany instant on an all-or-nothing buy-in—the pro-business Freie Demokratische Partei, under the leadership of the Finance Minister, argues that no plan would work if restricted to only euro-zone traders and without the participation of opposing UK and Sweden), the European Union, after some 18 months of debate and exploration, is ready, wobbly platform or not, to institute a financial transaction tax that would levy a 0.01% - 1% surcharge on trades.
There is some strong opposition that deserves to be heard, but I do think that a lot of the resistance is peppered with misconceptions and misapplication. This idea is nothing new, dating back to the opening of the London Stock Exchange during Renaissance times, and is already practiced to some extent in the Britain, Sweden (double-taxation is never floated, interestingly, as a contrary argument), Belgium, Greece, Poland and Switzerland and in other markets (even formerly in the US, until 1966, and Japan, until 1999) and the world did not end, and the stock exchanges are in fact far from some hedonistic free-for-all, and brokerages see amazing profits on short-term holdings and the activity of day-traders. A comprehensive agreement is projected to raise billions in tax revenue, discounting fears that the financial sector in Frankfurt or London and elsewhere would wither as investors flee towards more open markets without the transaction fees. Since consumption and income taxes in Europe are pretty high to begin with, though European citizens do realize benefits for the amount of money they pay in, taxing the financial institutions to offset the burden on the individual seems like a fair move. Only trades are levied and not home mortgages and loans to small businesses, as well as private banking, and pension funds should be exempt as well, though I do not think retirement accounts are as likely to be gambled on the stock market in Europe as in America. Some have been given cause to vehemently and callously doubt government’s ability to spend their taxes wisely. These proceeds would also shore up emergency rescue funds for banks and governments in crisis, and perhaps have the added benefit of taming speculation and automated trading, whose emotions and hair-pin triggers have created much turmoil. 
