The EU’s committee of finance ministers is called ECOFIN. It met today and considered a European financial transaction tax.
The resulting press release is here.
I gather the UK, Sweden, Spain and The Netherlands were strongly opposing such a tax. In favour were France, Germany, Austria and Greece.
There’s more work to be done — but the cause still makes progress.
And what a surprise that the places with significant banking crises oppose the tax.
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That is interesting:
On the one side we have the United States, Spain, the Netherlands and the UK.
On the other side France and Germany.
We know who usually wins these arguments, don’t we? No need to send Colin Powell to the UN this time.