EU Financial-Transaction Tax Set for Showdown in Luxembourg
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The 10 European Union countries pursuing a financial transaction tax meet in Luxembourg on Monday, trying to break a stalemate on the levy first proposed five years ago.
Austrian Finance Minister Hans Joerg Schelling, who’s leading the talks, said last month that there “has to be a decision in October” on the tax. Failing that, Schelling said he’d step down as the group’s leader. He also asked the Organization for Economic Cooperation and Development for advice on how to resolve remaining issues with the plan.