Brussels, 04/04/2013 (Agence Europe) - Disagreement with the financial transactions tax (FTT) is growing in the financial industry. The FTT is due to be introduced by eleven EU member states on 1 January 2014 (see EUROPE 10786) through the enhanced cooperation mechanism. Industry is unhappy with the cost of the tax for banks and countries, including nations outside the euro, and the danger of businesses relocating to avoid the tax.
According to a report by London Economics, a firm of...