Schelling Sees March Reckoning for EU Push on Transaction Tax
- FTT support could dip below nine-nation threshold to proceed
- Belgium could be the key, Schelling says in interview
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Austrian Finance Minister Hans Joerg Schelling said European efforts to agree on a common financial-transaction tax may fall apart if not enough nations are willing to move forward by next month.
At least nine countries must be on board for the tax plan to proceed under EU rules for “enhanced cooperation” when efforts among all 28 nations fail. The tax had as many as 11 backers, but is now at risk of falling to just eight, Schelling said in an in Brussels.