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Financial Transaction Tax: Excluding Derivatives would gut the planned FTT
12.02.2014: France is kow-towing to the financial sector’s demands, and is seeking to exempt derivatives from the tax.
German Campaign: Tax Against Poverty
Eleven European states are poised to agree an international Financial Transactions Tax before European Parliament elections in May. However, closed-door negotiations amongst France and Germany may tie things up before then. There is a concern, that the initial draft of the EU Commission might be watered down.
In particular, France is kow-towing to the financial sector’s demands, and is seeking to exempt derivatives from the tax.
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