Europe’s planned financial transaction tax poses “an enormous risk” to the countries involved and could threaten financial stability, France’s central bank governor has warned.
In the latest attack on the European Commission plan for a “Robin Hood” tax across 11 eurozone countries, aimed at raising €35bn, Christian Noyer said: “The commission’s draft is a non-starter and needs to be entirely revised.”
Successive French governments have been among those pushing hardest for a Europe-wide FTT but the current socialist administration of President François Hollande has also sought in recent months to water down Brussels’ proposals, under pressure from the financial sector.
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