Wed, Sep 28, 2016
A A A
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. Nobel Sustainability Trust, Prince Albert II of Monaco help launch major new initiative to drive sustainable technologies[more]

    Matthias Knab, Opalesque: The Nobel Sustainability® Trust ("NST") is leading a major new initiative to finance, incubate and accelerate the development of clean technologies. The initiative will start with the formation of the Nobel Sustainability Fund® ("NSF"). NSF will drive faster access t

  2. Studies - Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements, Cambridge: Look to private investments for best access to LatAm growth[more]

    Hedge funds’ study reveals vast disparity in types of investors securing side letter arrangements A new study of the hedge fund space by industry law firm Seward & Kissel LLP reveals a wealth of information regarding established hedge fund managers’ use of side letters—special agreements

  3. Activist News - Caesars 'optimistic' on deal with hedge fund creditors[more]

    From Reuters.com: Caesars Entertainment Corp said on Monday it remains "optimistic" of reaching a $5 billion deal with the bulk of its creditors to push its main operating unit out of bankruptcy, but one hedge fund bondholder said it will pursue litigation. Caesars offered a sweetened $5 billion set

  4. Hedge funds recover from losses as central banks give markets a respite[more]

    Komfie Manalo, Opalesque Asia: The Lyxor Hedge Fund index was up 0.4% from the week ending September 20 (-2.4% YTD), supported by the willingness of central banks to remain accommodative, Lyxor Asset Management said in its weekly briefing. It ad

  5. Perry Capital closing flagship fund after almost three decades[more]

    From Blooomberg.com: Richard Perry, one of the biggest names in hedge funds, is calling it quits after 28 years. Perry, 61, is winding down his New York-based flagship fund as the industry confronts one of the most tumultuous periods in its history. In a letter to investors Monday, he said his style