Spectator on facebook

Spectator on facebook

Most Eurozone finance ministers OK FTT; Kažimír has conditions

On Tuesday, January 21, 11 eurozone countries, including Slovakia, approved the financial transaction tax (FTT). Only ministers from Luxembourg, the Czech Republic, Malta and the UK opposed the FTT, and these countries will not adopt it for now, the Sme daily wrote. The original rates – 0.1 percent for bonds and 0.01 for derivatives - should be preserved, although the proposal is to be re-elaborated, the daily wrote.

On Tuesday, January 21, 11 eurozone countries, including Slovakia, approved the financial transaction tax (FTT). Only ministers from Luxembourg, the Czech Republic, Malta and the UK opposed the FTT, and these countries will not adopt it for now, the Sme daily wrote. The original rates – 0.1 percent for bonds and 0.01 for derivatives - should be preserved, although the proposal is to be re-elaborated, the daily wrote.

Slovakia wants to be assured that the FTT will not affect the competitiveness of the financial sector, said Slovak Finance Minister Peter Kažimír, as quoted by the TASR newswire, after the session of EU finance ministers (Ecofin) in Brussels. According to Kažimír, the FTT has reached another level. "When it comes to our interests, there's still an effort to prepare such a type of tax ... which won't worsen the competitiveness of our financial sector and won't represent an additional burden that could consequently be transferred on to clients." He stressed that these precautions must be addressed.

Kažimír pointed out that the club of 11 countries, which support the introduction of the FTT, may be extended, as Poland and the Netherlands are still undecided. The other 10 countries that have given the green light to the FTT are Austria, Belgium, Estonia, France, Germany, Greece, Italy, Portugal, Slovenia and Spain, according to TASR.

(Source: Sme, TASR)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Námestie Slobody gets facelift Photo

The architectural tender will gather ideas for the redesign of the biggest square in Bratislava

Námestie Slobody will be redesigned into a kind of living room in the city.

When the state can’t keep a secret

A selective leak has tarnished President Kiska’s reputation. But he must continue to speak out about corruption.

President Andrej Kiska

Fundamental values explored at Divadelná Nitra 2017

This time round, the Slovak, European and US ensembles at the theatre festival focus on #fundamentals, i.e. basic values and the essence of all things.

Nature Theatre of Oklahoma: Pursuit of Happiness

Foreign rocket engines for North Korea: Why?

For Russia, the path to a weakened China could be through a major nuclear accident in North Korea.