The EU will press forward with a financial-transaction tax, despite an opinion from the European Council's legal service that the plan is without jurisdiction. The European Commission says there is misunderstanding on the opinion. "We are confident that the commission's arguments and arguments of the legal service of the commission will demonstrate very clearly to our member states that the approach which has been taken in the proposal is the correct one and does not breach any provisions of the treaty," Taxation Commissioner Algirdas Semeta said.

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