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Talks among 10 European countries for a financial transaction tax have dragged on since 2011 as the countries involved have struggled to agree what instruments should be covered and at which tax rate. However, Germany and France continue to lead efforts to create the tax which is supposed to help recover public funds used to bail out banks during the financial crisis, while curbing speculative trading. This has posed the question, could this be a bigger threat to financial markets than Brexit?
The countries involved in developing a tax on financial transactions is regarded by some as a prospect so alarming ... (read more)