11 eurozone states gain OK to proceed with transaction tax

A majority of EU finance ministers have authorized 11 eurozone nations to implement a tax on financial transactions. The countries, including Germany, France, Italy and Spain, have yet to negotiate details of the tax. Although the exact mechanism has not been determined, industry participants are expressing concerns. AFME's Richard Middleton says the decision is "regrettable" and "likely to serve as another brake on economic growth."

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