The Biggest a.o. €uroArea Countries (9) ask to accelerate EU Tax on Financial transactions

A Letter signed by the 4 Biggest €uroZone Countries : Germany, France, Italy and Spain, joined by +5 more €-Members Finland, Austria, Belgium, Greece and Portugal, (i.e. totaling 9 €uro Countries), asking to "accelerate" an EU Directive project to establish a Tax on Financial Transactions, "is a Signal revealing that €uroZone's core is Ready to advance forward", and "shows that the proposal of a French Tax (due to be adopted on Wednesday),  is complementary to EU's process and may incite also other Countries to join the move", stressed French Minister of Economy, Finance and Industry, François Baroin, in a Press statement sent today to Medias including "EuroFora".

The Prime Minister of Italy, Mario Monti, and the Finance Ministers of the other 8 €urozone Countries, "concsious of the European Public Opinion's strong expectations" on the matter, signed and send, indeed, a joint Letter to the Danish rotating Presidency of EU Council, in order "give their full backing to the principle of the EU Directive's draft",  "to complete at least a 1st reading during the 1st Semester of 2012".  

+ They 9 key €urozone players firmly declared their strong conviction that a Financial Transactions' Tax is necessary (also) at an EU level, both in order to ensure a just contribution of the financial sector to the (Global) Financial Crisis' cost, but also in order to ameliorate the Regulation of Financial Markets.

Confirmed by French President Nicolas Sarkozy recently, an initial version of such a Financial Transactions' Tax, contained in the next Rectification Budget, is due to be adopted in Paris on Wednesday during the national Council of Ministers, and is expected to produce fiscal revenues of much more than 1 Billion € per year, while waiting for a more extended version to be endorsed after an EU agreement. But if anyone might, eventually, block EU's decision-making on this point, (which is normaly due to include also speculative transactions on Sovereign Bonds, etc), then, naturally, nothing hinders €uroArea Governance's "regular" New Summits (decided on Decembe 2011 and confirmed on January 2012 in EU Summits' in Brussels) to launch a properly €uroArea move in the Future.

(../..)

***

(NDLR : "DraftNews", as already sent earlier to "EuroFora"s Subscribers/Donors. A more accurate and/or complete, Final Version may come asap).

***