To be sure, markets might move those transactions from France and from French financial institutions, and, if the regulators erred – because the business was profitable and not destabilizing – French institutions would lose out. But, if the regulators were right, the French institutions would be more stable.
当然，市场可以将这些交易移出法国和法国金融机构，而如果是监管者错了——这一业务有利可图而且并不影响稳定——那么法国机构将蒙受损失。但是，如果监管者是对的，那么法国金融机构将变得更加稳定。如果托宾税的目标是增强金融机构（而不是改变市场），其效果将更加明显，就算并非所有大国就采用它也是如此。