Diplomats seek FTT compromise as December deadline looms

According to EurActiv in October 2014, EU ambassadors were asked to inject momentum into stalled plans for a tax on financial transactions.

An agreement was supposed to be reached by the end of the year. However, by the time this article was published, only 11 of the 28 member-states had agreed in principle to an FTT designed to make banks pay for the taxpayer aid they received in the 2007-09 financial crisis. The remaining countries had so far refused to take part in the process, saying that such a levy would damage financial markets.

• Primary Source

ESO: Background information: Ministers near deal on 'step-by-step' transactions tax http://www.europeansources.info/record/ministers-near-deal-on-step-by-step-transactions-tax/

European Commission; DG Taxation and Customs Union; Taxation: Other taxes: Financial Sector: Taxation of the financial sector http://ec.europa.eu/taxation_customs/taxation/other_taxes/financial_sector/index_en.htm

EurActiv, 04.11.14: France tries to unblock European FTT negotiations http://www.euractiv.com/sections/euro-finance/france-tries-unblock-european-ftt-negotiations-309748

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