FTT negotiations fall short of 2015 target

EurActiv reported in December 2014 that negotiations to create a tax on financial transactions had failed yet again, after officials from 11 Eurozone member states were not able to reach an agreement during the Ecofin meeting which took place on 9 December over how the tax should be collected.

With the planned deadline for the conclusion of the deal coming to an end, diplomats feared the establishment of the tax would not happen in 2016 anymore, as previously scheduled. Such scenario was not confirmed, and all involved countries except for Greece set the target launch date on 1 January 2016.

• Primary Source

ESO: Background information: Ministers edge closer to agreeing transactions tax http://www.europeansources.info/record/ministers-edge-closer-to-agreeing-transactions-tax/

Council of the European Union: Proposal for a Council Directive implementing enhanced cooperation in the area of Financial Transaction Tax - State of play, December 2014 http://register.consilium.europa.eu/doc/srv?l=EN&f=ST%2016498%202014%20INIT

Der Standard, 10.12.14: Threat of watered-down FTT (via Euro|Topics) http://www.eurotopics.net/en/home/presseschau/archiv/aehnliche/archiv_article/ARTICLE155063-Threat-of-watered-down-FTT

The Telegraph, 08.12.14: EU plans for 'Robin Hood' tax fall into disarray http://www.telegraph.co.uk/finance/newsbysector/banksandfinance/11279594/EU-plans-for-Robin-Hood-tax-fall-into-disarray.html

EurActiv, 08.01.15: Hollande will ‘use FTT to fight climate change’ http://www.euractiv.com/sections/development-policy/hollande-will-use-ftt-fight-climate-change-311098

EurActiv, 22.01.15: France and Austria table compromise for launching FTT in 2016 http://www.euractiv.com/sections/euro-finance/france-and-austria-table-compromise-launching-ftt-2016-311476

EurActiv, 23.01.15: EU private and public banks unite against FTT http://www.euractiv.com/sections/euro-finance/eu-private-and-public-banks-unite-against-ftt-311505

EurActiv, 30.01.15: FTT launch agreed for 2016 http://www.euractiv.com/sections/euro-finance/ftt-launch-agreed-2016-311669

EurActiv, 12.10.15: French plans to expand FTT may sink European negotiations http://www.euractiv.com/sections/euro-finance/french-plans-expand-ftt-may-sink-european-negotiations-318421

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