EU Says Nine Nations Needed on Financial Transaction Tax
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The European Commission responded to a letter from German Finance Minister Wolfgang Schaeuble and his French counterpart Pierre Moscovici urging action on a financial-transaction tax by reiterating that nine countries must submit formal requests for the plan to move forward.
In June, European Union finance ministers cleared the way for a smaller group of countries to proceed after it became clear there would not be unanimous support for an agreement among all 27 countries in the bloc.