Skip to comments.EU commission tables (supports) financial tax for 11 states
Posted on 10/24/2012 10:27:50 PM PDT by Olog-hai
The EU commission on Tuesday (24 October) proposed that a group of 11 countries move ahead with a common financial transactions tax, after years of wrangling failed to produce a deal among all member states.
Estonia late on Tuesday joined an earlier group of 10Austria, Belgium, France, Germany, Greece, Italy, Portugal, Slovakia, Slovenia and Spainwilling to go ahead with the tax.
The proposal still needs the approval of a majority of the EUs 27 countries and the European Parliament, after which a joint legal text will be issued.
EU tax commissioner Algirdas Semeta said this will be the epitome of a fair tax, raising billions of euros while helping to curb the casino-type trading that caused the 2008 financial crisis.
(Excerpt) Read more at euobserver.com ...