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>Euro-zone countries spending more than they make has nothing to do with financial markets and everything to do with short sited political decision making.
I think you are right about unintended consequences of a Tobin tax. I think it'd be more effective to simply put a minimum amount of time that you must hold any given asset. Trades are timestamped, so it would be easy. Even 1 hour would probably be an improvement. Anyway, the fact that Greece could get low interest loans because they use the same currency as Germany is root of the problem, more than any political decisions, IMHO. It was too easy for Greek politicians to take the easy road when Germany's good credit was feeding their addiction. I really don't see the EU coming under one effective fiscal policy, and I think that is the only real solution. For that reason, I think the Euro is probably going to die.