EU lawmakers support taxing financial transactions

03/8/2011 | Reuters · Guardian (London), The

EU lawmakers voted 529-127 in support of a tax on financial transactions. Although the vote is nonbinding, it will be difficult for the European Commission to ignore. A global transaction tax is preferred, but "failing that, the EU should implement a financial transaction tax at the European level as a first step," according to the resolution. A 0.05% transaction tax would generate about €200 billion.

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Reuters · Guardian (London), The

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