Transaction tax splits EU and frustrates U.S. bankers, experts say

02/17/2013 | United Press International · Bloomberg

Europe's proposed tax on financial transactions is already dividing the EU, posing the threat of job losses in financial hubs and frustrating U.S. bankers, experts say. EU Taxation Commissioner Algirdas Semeta has defended the proposal as "unquestionably fair and technically sound." Critics said that the levy would expand bureaucracy and hinder economic growth.

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United Press International · Bloomberg

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