Ten things you need to know about the EU financial transactions tax

The financial transactions tax (FTT), also known as the Tobin tax and the Robin Hood Tax, has been the stuff of legend for decades, discussed eagerly by academics and socialist economists, without ever gaining much traction in the mainstream. The financial maelstrom changed all that and, as José Manuel Barroso, president of the European Commission, comes forward with a proposal for an EU-wide FTT, everyone will be talking about it.