The legal service of the German parliament has made an assessment on the complaint, which the UK has filed against the FTT at the European Court of Justice.

According to this, the London has no chances to win the case.

The main arguments:

1. The complaint is already formally not feasible, because there is no definitive decision but only a draft directive. The Court does not decide on drafts.

2. In substance the complaint is not grounded, because the internal market and the free flow of capital would not be harmed

The expertise has also been reported in German media, among others in the SPIEGEl, the biggest weekly magazine, which creates a certain counterbalance to the activities of the finance lobby.

Another interesting info: in the talks of the SPD with the Merkel party, the Social Democrats are demanding that Ireland gets only money from the ESM, if the country gives up its resistance against the FTT and stops tax dumping through its present flat rate of 12,5% corporate tax.

However, these are the first talks, not yet serious negotiations and we have to see what remains in the end. But it also keeps the issue in the public in a positive perspective.