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EU 11 mull narrower FTT

17 December 2013

Salman Shaheen - ITR

The 11 EU member states looking to adopt a financial transaction tax (FTT) have discussed proposals for a narrower version of the tax to get it past stalled negotiations.

Lithuania has proposed that the 11 EU countries which want to bring in an FTT should consider narrowing the tax's scope so that countries can progress beyond their current deadlock.

Meeting in Brussels last week to consider Lithuania's proposals, the countries discussed exempting repurchase agreements (repos) from the FTT.

"There is concern that the application of the FTT to repurchase...

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