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Economy
In reply to the discussion: STOCK MARKET WATCH -- Friday, 7 December 2012 [View all]Demeter
(85,373 posts)6. EU Moves Ahead With Transaction Tax in Rejecting U.K. Changes
http://www.bloomberg.com/news/2012-12-03/eu-moves-ahead-with-transaction-tax-in-rejecting-u-k-changes.html
The European Union has moved ahead with a plan to design a financial-transaction tax for participating nations, rejecting the U.K.s requested changes to the proposal, an EU official said.
The U.K. had sought a series of wording changes to the European Commissions proposal, according to documents obtained by Bloomberg News. National ambassadors to the EU on Nov. 30 rejected those changes and opted to seek European Parliament approval with the commissions existing language, the official said on condition of anonymity because the deliberations are private.
All 27 nations and the EU parliament must agree for the Brussels-based commission to design a tax for 11 willing nations under so-called enhanced cooperation procedures. Skeptical nations that wont take part, such as the U.K. and Poland, have said they wont allow the smaller group of countries to proceed unless they know what to expect.
Accepting the U.K.s wording request would have been an unjustified step backwards on the proposal, a European Commission official said...
The European Union has moved ahead with a plan to design a financial-transaction tax for participating nations, rejecting the U.K.s requested changes to the proposal, an EU official said.
The U.K. had sought a series of wording changes to the European Commissions proposal, according to documents obtained by Bloomberg News. National ambassadors to the EU on Nov. 30 rejected those changes and opted to seek European Parliament approval with the commissions existing language, the official said on condition of anonymity because the deliberations are private.
All 27 nations and the EU parliament must agree for the Brussels-based commission to design a tax for 11 willing nations under so-called enhanced cooperation procedures. Skeptical nations that wont take part, such as the U.K. and Poland, have said they wont allow the smaller group of countries to proceed unless they know what to expect.
Accepting the U.K.s wording request would have been an unjustified step backwards on the proposal, a European Commission official said...
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