EU finance ministers failed to reach a decision about implementing a tax on financial transactions, instead calling for more study. "We hope for an accord that's as broad as possible, and we will take the time necessary to find as large an accord as necessary, which is what's wanted by the citizens of Europe," said French Finance Minister Francois Baroin. German Finance Minister Wolfgang Schaeuble dismissed speculation that a small group of nations could introduce the tax. For it to be effective, he said, at least the eurozone would need to adopt it. Swedish Finance Minister Anders Borg said the tax "would be difficult to accept." Learn more from SIFMA's Transaction Tax Resource Center.

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