Sun, Oct 4, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

European Commission allows 11 countries to proceed with Financial Transaction tax plan

Wednesday, January 23, 2013

Benedicte Gravrand, Opalesque Geneva: - The European Commission, the EU's executive arm, gave its accord to 11 member countries to go ahead with a planned Financial Transaction tax (FTT).

Germany and France reportedly persuaded Spain, Italy, Belgium, Estonia, Greece, Austria, Portugal, Slovenia and Slovakia to join in, and on Tuesday got a majority of EU states to allow them to proceed with the tax.

Those countries, which represent two third of the EU’s GDP, will "for the first time ever", be able to apply this tax at a regional level "answering the long-time calls of their citizens", International Adviser quoted Commissioner Algirdas Šemeta as saying. He also urged other countries to sign up for this tax, mentioning new revenues, growth friendly investments, fairness, contribution from the financial sector to public finances, as well as his vision of a harmonised FTT.

The proposal for an FTT was adopted by the European Commission (EC) in September 2011; it targeted "all financial transactions, namely the purchase and sale of a financial instrument, such as company shares, bonds, money-market instruments, units of undertakings for collective investment, struct......................

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. Performance - Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September, Risky strategy sinks small hedge fund[more]

    Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September From Billionaire stock pickers David Einhorn, Daniel Loeb and Barry Rosenstein on Wednesday told their wealthy investors they lost money in September as market turmoil inflicted more pain on some of America'

  2. Opalesque Exclusive: IRAs represent billions of untapped capital for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Retirement accounts might not be the first source that comes to mind for those looking to raise funds, but they may represent billions of untapped capital. Unlike traditional retirement accounts,

  3. Opalesque TV: One way to access market hedge funds in the EU under the AIFMD radar[more]

    Benedicte Gravrand, Opalesque Geneva: While the Cayman Islands, the US and Hong Kong await the pan-European marketing passport to be extended to alternative investment fund

  4. Vilas’ equity long bias hedge fund generates market-beating results[more]

    Komfie Manalo, Opalesque Asia: The Vilas Fund, an equity long bias fund managed by Chicago, Illinois-based Vilas Capital Management, posted five-year annualized returns, net of fees, of 23.47% vs. 15.87% for the S&P 500 Index, including divid

  5. Performance - Manager admits spin used to hide poor performance, Fortress macro hedge fund slumps 17.2% amid manager shakeup, In the hedge fund world, bigger is still better[more]

    Manager admits spin used to hide poor performance From … Colin McLean, managing director of SVM Asset Management, told FTAdviser that fund managers underperform all the time, so stories are often needed to mask or explain this. “People need to build a good framework