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France wants the financial transactions tax to see the light of day, but there is no consensus in Europe on this topic. The Luxembourg Bankers Association (ABBL) is against such a tax if it will only be valid in few countries. Its CEO, Jean-Jacques Rommes, fears that business will go to competing finance centres. In an interview with LuxembourgforFinance (LFF), he spoke about the efficiency of such a tax and the lessons we should learn from Sweden.
What are the motives of introducing a tax on financial transactions?
One of the problems we are facing is the fact that politicians have not stated very clearly why they want such a transaction tax. We know that governments need money and this is a legitimate reason...
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