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The European Commission in 2011 proposed a directive aimed at introducing an EU-wide financial transaction tax (FTT), but at that time there was insufficient support for the proposal.
At a meeting in Brussels on October 9, the Council was informed of developments regarding the possible introduction of FTT.
The 11 countries pro FTT are
Read the full press release from the European Council.
As there is now political will to impose the FTT, the next steps to introduce the the tax will be:
The timetable is uncertain, it might be done by the end of the year, but no doubt there will be remaining fights over the design of the tax and allocation of the revenues.