Europe's transaction tax prompts concerns

01/31/2013 | Trade News (U.K.), The

As the full scope of Europe's proposed tax on financial transactions becomes public, experts are voicing concern that its wide reach will stunt growth. "If you tax the nominal value of derivatives, flow will migrate elsewhere as these contracts can be traded globally," said Diego Valiante of the European Capital Markets Institute. That could lower volume and make European markets less competitive, experts say.

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Trade News (U.K.), The

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