Plans for a European Financial Transaction Tax have not advanced since 2012. Now the Commission wants to have the project wrapped up by the end of the year, setting a precedent for an EU-wide corporation tax. EurActiv France reports.
France and Austria sought on Thursday (22 January) to break deadlocked talks with nine other European countries for a financial transaction tax, by proposing that it be applied to cover a wide range of transactions, at low rates, starting next year.
The European Commission is confident it can establish a European Prosecutor’s Office among a small group of EU member states since only eleven countries have stated their opposition to the plans, including France and Britain.
Those opposed to a financial transaction tax, or Tobin tax, have been pushing myths about in an attempt to discredit the tax, argues Suleika Reiners. One of these myths is that businesses oppose the tax.
The European Commission formally proposed a tax on financial trading in 11 countries yesterday (14 February), saying the levy could raise up to €35 billion each year and make banks more accountable following the 2008 banking crisis.
As EU finance ministers meet in Luxembourg today (9 October), Germany and France will step up a diplomatic drive to convince more EU countries, even outside the eurozone, to join them in setting up a financial transactions tax (FTT).
At least nine countries led by Germany are expected to ask the European Commission to draw up plans for a so-called "enhanced co-operation" on the financial transactions tax (FTT) following a meeting of EU finance minister in Luxembourg on Friday (22 June).
Faced with fierce opposition from Britain and Sweden, France and Germany could formally request plans for a smaller group of countries to move forward on a financial transactions tax (FTT) when finance ministers meet in Luxembourg on Friday (22 June).
Spain and Italy are threatening more legal action if ministers steam ahead with proposals for an EU patent in Luxembourg on Monday (27 June), on top of the case they have already brought at the European Court of Justice.
The European Parliament will tomorrow (27 January) give its first green light to 23-country enhanced cooperation for the European patent, confirming a fast-track approach chosen by the European Commission despite a number of unresolved controversial issues.
At a bilateral summit in Kiev, the EU has reiterated its call for Ukraine to uphold democratic standards and form a government swiftly following its parliamentary elections on 30 September, in a move that is anticipated to end the ongoing political crisis.
In an exclusive interview with EurActiv, Jonathan Faull, the European Commission Director General for Justice and Home Affairs, highlights the main challenges in building an area of freedom, security and justice.
The Convention's Praesidium has proposed draft articles of the Constitution on enhanced cooperation which aim to simplify the current provisions and reinforce the role of the Commission and the European Parliament.