Fekter Happy With Financial Transaction Tax

People ♦ Published: October 10, 2012; 13:09 ♦ (Vindobona)

Austrian Finance Minister Maria Fekter: "We have only created the on-ramp to the highway – details and structure to follow by Christmas“

Fekter Happy With Financial Transaction Tax / Picture: © Wikipedia / World Economic Forum (Heinz Tesarek)

Following lengthy discussions on the financial transaction tax, it can now finally be launched. At a meeting of EU Finance Ministers held on 9 October 2012 in Luxembourg, agreement was finally reached on the introduction of so-called "enhanced cooperation", which is backed by eleven states. According to the EU Treaty, at least nine countries need to be in agreement.

Of these…