Sarkozy surprised EU leaders and French tax advisers with bold comments suggesting France would impose a FTT without European consensus, after a meeting with German Chancellor Angela Merkel on Monday.
French finance minister, Francois Baroin, said the tax – which is likely to include stocks, bonds and derivatives – will be adopted in France during 2012.
Michel Aujean, an adviser at Taj who used to be director of Tax Analysis and Policy at the European Commission, said Sarkozy’s comments puzzled many tax advisers, especially since he has subsequently alluded that France will base its FTT on the Commission’s proposals.
“Sarkozy’s insistence is surprising because everyone knows that going alone with a tax on financial transactions would be a disaster,” said...
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