Financial Transaction Tax: Doomed to Fail?
The project of implementing a common Financial Transaction Tax (FTT) fell into the lap of the European Union (EU) after a similar proposal failed to win the backing of Group of 20 (G20) member countries at the 2011 G20 Cannes Summit. Ironically, when it became obvious that the EU would also not be able to reach an FTT agreement, a group of 11 European countries decided to bring this project to completion under the enhanced cooperation agreement that allows a majority of member states in the EU
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