Sarkozy to introduce French FTT in August
Monday 30 January 2012 - by Andrew Hickley
Speaking on French television, Sarkozy announced the introduction of the financial transaction tax from August.
Last year the EC put forward measures to introduce a 0.1 per cent tax on equity and bond trades, along with a 0.01 per cent tax on derivatives trading.
Sarkozy has consistently pioneered for a financial transaction tax to be implemented across Europe, though the measure has faced a backlash from countries including Britain and Sweden.
The French President was also unable to convince global leaders to introduce the measure when France held the G20 presidency last year.
Sarkozy's announcement comes after German Chancellor Angela Merkel revealed she would "actively support" the President in his bid to win re-election with a series of joint campaigning appearances in the spring.
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