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European banks wish to reiterate their strong opposition to the plans of a group of 11 EU Member States and the European Commission to introduce a tax on financial transactions under the EU’s enhanced cooperation procedure. Taking note of statements made after the informal discussions among EU finance ministers in Luxembourg on 12 September 2015, European banks wish to reiterate their strong opposition to the plans of a group of 11 EU Member States and the European Commission to introduce a tax on financial transactions (FTT) under the EU’s enhanced cooperation procedure.
The European Banking Federation, which brings together 32 national banking associations that collectively represent some 4.500 banks in Europe, firmly believes that an FTT puts at risk economic growth...
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