European officials debate financial-transaction tax

11/13/2012 | Bloomberg Businessweek

German Finance Minister Wolfgang Schaeuble said at a meeting with peers that they should proceed with a tax on financial transactions. For the European Commission to design a tax for willing nations, the European Parliament and all EU nations must agree. The UK, Poland and other nations wary of the tax say they won't let willing nations implement it unless they have more information about possible effects. "There must be a pragmatic way of letting us see the directive to make sure there are no spillover effects," Polish Finance Minister Jacek Rostowski said.

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