The ETS is flawed because ;
1) The European Commission is un-elected , therefore it has NO authority. ( ECJ who ???)
2) A unilateral tax imposed unfairly , without examining ALL macroeconomic ramifications and without agreement by all parties concerned is doomed.
3) The group that has the authority to create , monitor , and enforce such a scheme is ICAO. Their absence in the ETS is proof of their incompetence and lack of political will by ALL members. Just like it`s parent , the UN , it`s time has come and gone.
4) All concerned parties have different agendas. Some will cite historical precedents , others will claim scientific data , still others will decieve and lie. Saving face is just the tip of the iceberg.
5) Any more ??? I`m sure there`s lots.
Like the Euro area as a whole , without a believable , trustworthy and transparent policy and plan , this " project " will fail.