Wed, Aug 31, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

France and Germany try to revive EU-wide financial transaction tax

Monday, October 01, 2012

Benedicte Gravrand, Opalesque Geneva – France and Germany are aiming to revive a financial transaction tax (FTT) within the European Union, reported AFP two days ago.

German Finance Minister Wolfgang Schaeuble and French counterpart Pierre Moscovici wrote to European Taxation Commissioner Algirdas Semeta and their EU colleagues seeking permission for an "enhanced cooperation" accord, which could be implemented if one third of all EU states back it, the report says. The undated letter solicits the Commission to ask the 27 EU member states to decide whether they want to cooperate on a common FTT. This idea which sprang from Sarkozy’s government more than a year ago, already failed to go through this summer.

The FTT would consist of 0.1% levied on share and bond trades and 0.01% on other transactions, and would be implemented by year’s end if there is support from at least nine states and approval from the European Parliament.

The European Commission released the initial proposal for a FTT in September 2011. According to EuroActiv.com, Brussels said the FTT would be levied from banks, stock exchanges and financial service providers according to a residency principle, excluding any transaction recorded by a fin......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. The Big Picture: Water is single largest environmental investment opportunity[more]

    Benedicte Gravrand, Opalesque Geneva: Water, the world’s most precious and undervalued commodity, is set to lead the socially and environmentally responsible investment themes. This is according to specialist fund manager Thomas Schumann. His firm,

  2. Commodities - Hedge funds pile into bullish bets on U.S. crude by most on record, Rig count steady, hedge funds dump short contracts on 63 million barrels, Hedge funds bail on Copper as Goldman predicts ‘supply storm’, Hedge funds pile up bets against sterling[more]

    Hedge funds pile into bullish bets on U.S. crude by most on record From BRecorder.com: Hedge funds and other speculators raised their bullish bets on US crude oil in the past week by the most on record fuelled by speculation that Organization of the Petroleum Exporting Countries will agr

  3. Investing - U.S. hedge fund Marathon makes Brexit bet on European property, Hedge funds love Liberty and John Malone, DE Shaw could bid for control over TerraForm Power, New York hedge fund increases stake in Tronc as sale talks continue, Don't wait too long to check this +20% value fund's ideas[more]

    U.S. hedge fund Marathon makes Brexit bet on European property From FT.com: Marathon, a $13bn US hedge fund, is building a big Brexit trade, increasing its investments in property across Ireland, France, Germany and the Netherlands, in a bet that they will be among the big beneficiaries

  4. Opalesque Exclusive: Investors struggle to identify the better performing hedge funds[more]

    Komfie Manalo, Opalesque Asia: Fund managers and investors believe that performance is one of the major factors driving change in the hedge fund industry, a Preqin survey showed in its latest Hedge Fund Spotlight. Preqin said that the disappoin

  5. …And Finally - Baby born on Cebu Pacific airplane gets 1 million air miles[more]

    From CNN.com: Here's one kid who'll probably learn to fly before she can crawl. After being born four hours into a flight from Dubai to Manila, baby girl Haven has been gifted 1 million air mile points. Haven's mom went into labor more than five weeks early while flying on an aircraft op