European groups warn about financial-transaction tax

04/25/2011 | Global Financial Strategy

Two European financial industry groups have voiced concerns about the possibility of a financial-transaction tax. The Luxembourg Bankers' Association sent an open letter to the European Commission saying the idea is an indirect tax on regular citizens. The Federation of European Accountants also said a financial-transaction tax could land on the shoulders of consumers and voiced concerns about how it would affect different nations across the EU.

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