Blog

“Prospects of an EU tax on financial transactions have been put into question by confusion on how it would work and a legal challenge by the UK.  A six-page-long memo drafted by civil servants in the EU Council last week – seen by EUobserver – indicates cooling enthusiasm among the 11 EU countries which supported the introduction of a financial transactions tax (FTT).  The officials say the FTT, which includes a 0.1 percent levy on bonds and shares and 0.01 percent on derivative products, would hit repurchase agreements on sovereign bonds, forcing up the cost of financing government debt.”

http://euobserver.com/economic/119882