The Madness of Crowds

ComRes has been doing some polling of the Brussels elite about the Financial Transaction Tax.

Their results are unsurprising if not depressing.

Six in ten MEPs also believe that such a tax will be welcomed by their constituents
Overall, MEPs and Brussels Influencers don’t think that an FTT will make Europe’s banking sector less competitive worldwide

So that is general, what about specific. What about those who should have a clue,

Perhaps the most intriguing result is the fact that while a majority of members (or substitutes) of the Economic Affairs committee of the Parliament (59%) believe that such a tax will make Europe’s banking sector less competitive worldwide, yet they would still support its introduction (63%)

So even those who know that it is a bad idea, still support it.

Given what the Brussels meeting today is supposed to be about growth, jobs and competitiveness this is just maddening.