tobin tax

Resurrected Financial Transaction Tax poses threat to EU markets

A renewed push by a group of 11 European countries could see a controversial Financial Transaction Tax introduced across the EU in less than 12 months, with harmful effects on securities markets and extraterritorial repercussions – even in countries which have not signed up, such as the UK.

Sinking the financial transaction tax

Further uncertainty in the Eurozone has been prompted by unconfirmed reports that the European Commission is considering watering down the 11-nation proposals for a financial transaction tax – but any revisions may have to wait until September, following elections in Germany, according to sources close to the subject.