EU agrees to pursue financial transaction tax

11 eurozone states to launch FTT

Economic and Finance Ministers Council22 January 2013 adopted a decision authorizing 11 member states to proceed with the introduction of a financial transaction tax (FTT) through “enhanced cooperation”.

The 11 countries are Belgium, Germany, Estonia, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia.

The 11 eurozone states will now need the European Commission to draft legislation enacting a tax.