Ministers near deal on ‘step-by-step’ transactions tax

A short one page document outlining plans for a future financial transaction tax (FTT) amongst the eleven EU countries wishing to move towards this proposal under the EU's enhanced co-operation procedure was presented to other EU Finance Ministers at an Ecofin Council on the 6 May 2014.

The UK, Sweden and the Netherlands expressed discontent with the manner of the announcement and the lack of detail in the proposals.

• Primary Source

ESO: Background information: Speaking points by Commissioner Šemeta at the ECOFIN press conference http://www.europeansources.info/record/speech-speaking-points-by-commissioner-semeta-at-the-ecofin-press-conference/

ESO: Background information: Judgment in ECJ C-209/13 United Kingdom v Council http://www.europeansources.info/record/press-release-judgment-in-ecj-c-209-13-united-kingdom-v-council/

Blog: Open Europe, 06.05.14: Swedish and Dutch patience running out over proposed FTT? http://openeuropeblog.blogspot.co.uk/2014/05/swedish-and-dutch-patience-running-out.html

EurActiv, 06.05.14: UK, Sweden attack FTT statement by euro nations http://www.euractiv.com/sections/euro-finance/uk-sweden-attack-ftt-statement-euro-nations-301953

Council of the European Union: Press Release, PRES/14/242: Ecofin Council, Brussels, 06.05.14 http://www.consilium.europa.eu/uedocs/cms_data/docs/pressdata/en/ecofin/142513.pdf

Deutsche Welle, 06.05.14: European financial tax to be levied as of 2016 http://dw.de/p/1BuSx

The Guardian, 06.05.14: George Osborne bristles as EU moves closer to financial transaction tax http://www.theguardian.com/politics/2014/may/06/george-osborne-eu-financial-transaction-tax-legal-challenge

Euro|Topics, 07.05.14: Financial transaction tax for 2016 http://www.eurotopics.net/en/home/presseschau/archiv/archiv_dossier/DOSSIER143018-Financial-transaction-tax-for-2016

EurActiv, 19.06.14: France endeavours to revive Paris stock exchange http://www.euractiv.com/sections/euro-finance/france-endeavours-revive-paris-stock-exchange-302902

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