Transaction tax splits EU, angers U.S. bankers, threatens jobs

02/17/2013 | United Press International · Bloomberg

Europe's proposed tax on financial transactions is already dividing the EU, threatening jobs in financial hubs and frustrating U.S. bankers, experts say. EU Taxation Commissioner Algirdas Semeta has defended the proposal, calling it "unquestionably fair and technically sound." Critics, however, warn that the levy would create a bureaucratic nightmare and hinder economic growth.

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United Press International · Bloomberg

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