Late Tuesday afternoon NYT Dealbreaker reported on the 27 member EU proposal for a Financial Transaction Tax (FTT), which we alerted you to. This morning we just want to share a few more details as we understand them.
This proposal will be debated by the European Council of Ministers this year, and if passed or agreed upon unanimously by the 27 EU members, will take effect January 2014.
- One of the parties must be established in the EU
- Rate = 0.1% of the value of stocks and bonds
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