EU: “yes” to control, “no” to tax

During their September meeting in Brussels the Ministers of Finance of the EU countries approved the EU financial control system creation & agreed to provide Greece with a second tranche. However in spite the unanimity on many other financial issues they haven’t reached any agreement on an introduction of joint European tax on bank operations. According to the opponents to the project such a new tax can affect the income tax. Besides it may force some companies to transfer their financial activity outside Europe that will again result badly for the income tax. They believe it will be more reasonable to introduce a simple bank fee.

The main supporters of the idea – France & Germany stress out that the tax will help the European countries to compensate the funds they wasted for the aid for their banks. Meanwhile several representatives of various non governmental organizations have expressively supported the introduction of this tax by manifesting in front of the Euro Commission’s head  office.