Actually, the German proposed financial tax ploy, very clever PR device here. German based industrial vs. UK paper backers.
A clever PR counter by the Germans might be a totally anti- Keynes proposal, of a no tax regulated-audit package.
And the Germans are actually making a concession by even allowing the UK paper-maker lobby back in.
The Germans are in their own way acting as Europe’s Tea Party.
You're probably right. If the financial transaction tax is imposed in the Eurozone every German, French, Italian etc bank will only deal in London to avoid the tax.
One thing is for sure the rest of Europe is going to be playing by the German rules in the future. Its going to be very interesting to see how long the populations of France, Italy, Spain etc acquiesce to being ruled by Eurocrats dominated by Germany.
R.I.P. Democracy in Europe.