Group-of-11 gets go ahead for financial transaction tax

EUObserver reported that a European tax on financial transactions moved a step closer to reality on the 22 January 2013 after EU finance ministers gave the go-ahead for 11 countries to put it into law.

Ministers at the Ecofin meeting in Brussels on Tuesday (22 January) formally gave consent for the group, marking only the third time the EU's voting procedure has been used to allow a group of countries to press ahead with a special project, joining divorce law and the recently established European patent court.

The 11 countries are Belgium, Germany, Estonia, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia.

• Primary Source

ESO: Background information: Proposal for a Council Decision authorising enhanced cooperation in the area of financial transaction tax http://www.europeansources.info/record/proposal-for-a-council-decision-authorising-enhanced-cooperation-in-the-area-of-financial-transaction-tax/

ESO: Background information: Eleven euro zone states back financial transaction tax http://www.europeansources.info/record/eleven-euro-zone-states-back-financial-transaction-tax/

EurActiv, 22.01.13: FTT deal ignites debate on how to allocate funds http://www.euractiv.com/development-policy/meps-advocacy-groups-hail-ftt-ne-news-517262

Council of the European Union: Press Release, PRES/13/23: Financial transaction tax: Council agrees to enhanced cooperation http://www.consilium.europa.eu/uedocs/cms_Data/docs/pressdata/en/ecofin/134949.pdf

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