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Financial Transactions Tax

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ECB Examines Impact of Financial Transactions Tax

The European Central Bank is examining the potential impact of Europe's proposed financial transactions tax on money markets, the bank's top economist Peter Praet said Thursday, after top ECB officials raised concerns that the tax could have adverse effects on still-weak financial markets."We are looking at the potential consequences of FTT on money markets, [which] are key to transmission of our monetary policy," Mr. Praet, a member of the ECB's executive board, said at a meeting of business leaders in Brussels.Eleven European countries are pressing ahead with plans to introduce the financial transactions tax, which aims to discourage speculative trading by charging levies of 0.1% on trades of shares and bonds and 0.01% on derivatives.The rules aim to prevent firms from simply shifting trading abroad by applying the tax not only to transactions that take place within the 11 countries, but also to trades of shares or bonds issued by companies located in those countries.Jens Weidmann, h...

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  1. ECOFIN: Germany, France Hope for Quick Implementation of Bank Levy

    France and Germany said Tuesday they hoped a new bank levy could be introduced rapidly after 11 European Union countries clinched enough support to start drawing up ...

  2. EU states to get go-ahead for tax on trading

    Germany, France and nine other euro zone countries will get the go-ahead on Tuesday to start work on a financial transactions tax, a measure likely to unsettle banks...

  3. Italy Tobin Tax to Levy All Equity, Derivatives Trading in Milan

    Italy's proposed financial transactions tax would impose a 0.12% levy on all equity trades from March 2013, according to a proposed amendment made Thursday to the 20...

  4. EU: Legal Conditions in Place for Financial Transactions Tax

    The legal conditions are in place for those European Union states that want to impose taxes on financial transactions to go ahead with the legislative process, the E...

  5. Britain seems to be saying "bye bye" to EU, says Finland

    Britain's policy towards Europe is becoming harder to understand and there is a sense the country is slowly waving goodbye to the European Union, Finland's Europe mi...

  6. Surprise: Italy's PM Announces Tax Cut

    Prime Minister Mario Monti announced an income tax cut to help low earners, giving a rare lift to struggling Italian households ahead of parliamentary elections next...

  7. Highlights: EU finance ministers meet on financial transactions tax

    - European Union finance ministers met in Luxembourg on Tuesday to discuss issues including plans for a financial transactions tax among a core group of countries an...

  8. Sweden Fin Min Borg: European Commission Proposal Doesn't Take Us Any Further

    Much work still needs doing on a single bank supervisor and the European Commission's proposal hasn't moved the 27-nation bloc much closer to a compromise, Sweden's ...

  9. Single Eurozone Budget More Popular Than Anticipated

    Debate about the idea of creating a separate budget for euro zone countries is intensifying in the run-up to an EU summit later this month, with less opposition to t...

  10. RPT-Single euro zone budget gains momentum ahead of summit

    Debate about the idea of creating a separate budget for euro zone countries is intensifying in the run-up to an EU summit later this month, with less opposition to t...

  11. Single euro-zone budget gains momentum ahead of summit

    Debate about the idea of creating a separate budget for euro zone countries is intensifying in the run up to an EU summit later this month, with less opposition to t...

  12. Slovenia Joins EU Movement For Financial Tax

    Slovenia on Friday joined a growing number countries seeking to introduce a tax on financial transactions under a special EU procedure allowing them to go ahead with...

  1. Exchanges ring alarm bells over EU transaction tax

    Top exchange officials opposed to a European financial transactions tax intensified their lobbying on Tuesday, warning it would push trading to other parts of the wo...

  2. Luxembourg Minister Says Sympathetic to UK on Transaction Tax

    Luxembourg Finance Minister Luc Frieden said Monday his government is sympathetic to the U.K.'s opposition to a tax on financial transactions in the European Union, ...

  3. U.K. Challenges EU's Proposed Transactions Tax

    The U.K. government has lodged a legal challenge to the financial transactions tax proposed by the European Commission because of concerns that it would hurt those c...

  4. U.K. Contests EU's Proposed Financial -Transactions Tax

    The U.K. government has launched a legal challenge to the financial transactions tax proposed by 11 European Union countries due to concerns the levy will negatively...

  5. Financial Transactions Tax Would Cost French Companies EUR70 Billion - Report

    A tax on financial transactions may end up costing French companies as much as 70 billion euros ($92 billion), Le Figaro reported Monday, citing business association...

  6. Lawmakers call for tax hikes as economy shrinks?

    Washington not feeling America's pain?

  7. Germany, France Hope for Quick Implementation of Bank Levy

    France and Germany said Tuesday they hoped a new bank levy could be introduced rapidly after 11 European Union countries clinched enough support to start drawing up ...

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