Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
You need the liquidity, otherwise people will just put their money in CDs (hoarding).

In Spain until at least a few years ago, there was no capital gains tax on shares which were kept for a sufficient number of years (maybe 10? 18?) I don't know whether that's still the case.

Nothing is 'mere'. — Richard P. Feynman

by Migeru (migeru at eurotrib dot com) on Sun Sep 10th, 2006 at 03:46:49 PM EST
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