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Financial transaction tax tabled by European Commission - ECM

Deborah Bragger

The European Commission has tabled its controversial financial transaction tax (FTT), despite the fact that only 11 member states out of 27 support it.
The tax, proposed by Commissioner Algirdas Semeta in Brussels, has been adopted by 11 eurozone states, including France, Germany and Spain.
The FTT aims to raise public funds and encourage more responsible trading by financial institutions.

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