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    The European Commission’s proposed financial transactions tax

    Sibert, Anne (2013) The European Commission’s proposed financial transactions tax. EconoMonitor ,

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    On September 28, 2011, the European Commission formally proposed a plan to implement an EU-wide financial transactions tax (FTT)[1]. Unanimity is required to implement such a proposal at the EU level and this is impossible as many member states, notably the United Kingdom and Sweden, oppose it [2]. As a way around this, in Oct 2012 the Commission suggested an enhanced cooperation procedure that would allow a minimum of nine EU members to go ahead with the FTT without other member states being involved. A minority of eleven member states decided to proceed [3]. The European Parliament resoundingly approved their plan in December 2012 and the European Council assented on January 22, 2013 [4]. On February 14, 2013 the European Commission adopted a proposal for an 11-nation FFT and it will come into force after being approved by the participating member states and the European Parliament.


    Item Type: Article
    School: Birkbeck Faculties and Schools > Faculty of Business and Law > Birkbeck Business School
    Depositing User: Sarah Hall
    Date Deposited: 29 Apr 2014 10:06
    Last Modified: 02 Aug 2023 17:10


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