Financial transaction taxes and Europe

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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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