But it is also clear that additional protocols will be needed in the management of capital flows. A financial transactions tax on currency trading would be an obvious means of capital control. This tax would be levied at two variable rates: the lower one, which could be as little as 0.005 per cent would be imposed on day-to-day transactions in order to curb volatility, while a higher one would be deployed in the case of speculative attacks or large capital outflows – a probability as ever more countries turn their back on neoliberalism.
