FTT: EPP Group expects Financial Transaction Tax to become global

"The EPP Group welcomes the Commission's proposal fixing the details of the implementation of the enhanced cooperation in the Financial Transaction Tax (FTT).

"For us, it is of major importance that the financial sector contributes, as any other economic sector, to the collective effort to grow out of the crisis. This is the next step out of the crisis. For now, 11 Member States are willing to participate, for the rest, the doors are open and they can join at any moment", said Jean-Paul Gauzès MEP, EPP Group Coordinator in the Economic and Monetary Affairs Committee of the European Parliament.

"The European Parliament has been supporting the creation of the FTT for a long time. We welcome the introduction of new tools, such as the 'issuance principle',  to limit the risk of relocation of financial operators."

"I hope that the initiated enhanced cooperation agreed on by 11 Member States will pave the way for a European and then global agreement on the Financial Transaction Tax. The added value is indisputable - the FTT will fight against speculation, will introduce more justice into the fiscal system and should, in the long run, enable the strengthening of EU own resources", he said.

Member States participating in the enhanced cooperation on FTT are: Belgium, Germany, Estonia, Greece, Spain, France, Italy, Austria, Portugal, Slovenia and Slovakia.