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European moves towards financial transactions tax

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EU paves way for transaction tax group

EU finance ministers have given their blessing to a group of 11 member states aiming to implement a financial transaction tax. But the bloc remains deeply split on whether the tax will curb excesses in financial markets.

Germany, France, Spain, Italy, Austria, Portugal, Belgium, Estonia, Greece, Slovakia and Slovenia were allowed to push on with their financial transaction tax as a qualified majority of EU finance ministers gave their approval on Tuesday.

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