FTT to be in place by 'end of year'
Wednesday 4 January 2012 - by Karina Whalley
France's minister for European affairs, Jean Leonetti told LCI television that the tax would be under discussion at the European Summit on January 30 despite Britain and Sweden's opposition.
However British prime minister, David Cameron vetoed the treaty changes, fearful of the tax's impact on the City. Sweden and the UK are the only EU member states against an FTT.
In December, French finance minister Francois Baroin said he was working alongside his German counterpart, Wolfgang Schäuble, on a "complementary" initiative to the European Commission's original FTT proposal. Baroin says this will be presented on 23 January for implementation in 2013.
Schauble insisted that the two countries will fight for the tax to be introduced only in the eurozone if necessary.
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