EU Commissioner for Taxation and Customs ,
"Today, the participating (11) Member States have reiterated their commitment to the FTT and laid down their roadmap for its implementation. This is a welcome signal. Of course, there is still quite a road to travel before the FTT is in place," EU Commissioner for Taxation and Customs,
"The participating Member States need to continue to invest wholeheartedly in this file to make it law within the timeframe foreseen. But, every step forward on the Financial Transaction Tax is of significance," he added.
They argue that the tax is needed to avoid a repeat of the 2008 financial crisis in
British Chancellor of the Exchequer George Osborne said that if the tax affected other EU countries which have decided not to take join, "they are entitled to challenge that and we will challenge that." Meanwhile, Semeta welcomed today's adoption by the ministers of new law to harmonise and strengthen criminal law against euro-counterfeiting.
"Not only will this boost confidence in our common currency, by creating a stronger shield against counterfeiting. It will also help to protect honest businesses and citizens from ending up with fake money in their pockets," he said.
Since the euro was introduced in 2002, counterfeiting is estimated to have cost the EU at least
Recent figures published by the
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