It is essential for Visa to stay ahead of its competitors in mobile payments if it wants to retain its position as the top payments technology provider.

FORBES: Visa Looks Fully-Valued After Google Wallet Pop

Reflecting his analysis of the U.S. balance of payments deficit, Levy owns a large position in the euro.

FORBES: Leon Levy Says Sell on Strength

The Essex branch of the Police Federation welcomed the appointment but said it was concerned senior officers were getting allowances - such as a flat rate 15% of salary for being in a senior position - while rank and file officers had seen competency payments stopped.

BBC: Essex Police top officer bonus pay review called for

Instead, Sirius was left in a position of having excessive debt and no cash with which to make interest payments.

FORBES: Ask Not What Karmazin Did For Sirius. Ask Instead What Sirius Did For Mel

He blamed "tax write offs" and a "review of image right payments" and went on to claim other Super League clubs were in the same position.

BBC: Hull KR face fine over accounts

However, further instalments of tax payments, accrued since the presentation of the petition, have kept the club in a perilous financial position, demonstrated by the delay in paying players.

BBC: Plymouth Argyle survive winding-up threat

Since the mechanism of a currency transactions levy is supposed to be based on taxing the net position of foreign exchange transactions, it could represent a restriction of the free movement of capital and payments (Article 63 TFEU).

FORBES: The Stupidity of the Robin Hood Tax Reaches America