France now wants FTT on all financial products including derivatives

From Expatica/Agence France-Presse

French President Francois Hollande shifted position Monday on implementing a long-sought financial transactions tax in Europe and said the money should go towards projects aimed at mitigating climate change.

In an interview on France Inter radio Hollande said such a tax should be put in place next year in willing European countries on “all financial products at a low rate”.

That is a shift of position for France, whose insistence that financial derivatives products important for French banks be excluded from the products to be taxed led to the failure of talks last month between 11 EU states that was supposed to finalise the initiative.

The full article is available here.

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