Schelling Says EU Needs December Decision on Transaction Tax
Italy, Slovenia and Estonia have strong concerns on tax plan
Schelling says proposal may be dropped if no deal by December
Stephanie Bodoni and Rebecca Christie
European Union nations need to decide by next month on whether a financial-transactions tax is possible among participating countries, Austrian Finance Minister Hans Joerg Schelling said.
Schelling, who leads the group of 11 nations that have signed up to design a joint FTT, said he’ll aim to submit a report in December to all 28 EU nations. So far, he said, talks among participating nations have yielded “clear progress” but also no deal.