Banks, markets oppose financial transaction tax

EurActiv reported that banks operating in the European Union have dismissed proposals made on the 16 August at the special Franco-German summit in Paris to discuss the eurozone finance crisis for a tax on financial transactions, saying it would not stabilise markets and could serve to distort them.

• Primary Source

ESO: Background information: Merkel and Sarkozy pledge to defend euro http://www.europeansources.info/record/france-and-germany-plan-joint-taxation-merkel-and-sarkozy-pledge-to-defend-euro/

ESO: Background information: Brussels backs financial activities tax http://www.europeansources.info/record/brussels-backs-financial-activities-tax/

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