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Austria Threatens to Quit Effort to Create an EU Financial Tax

Jan. 21, 2020, 1:11 PM

Austria’s new finance minister dismissed a proposal by his German counterpart on how to tax financial trades in the European Union, throwing the years-long effort into disarray.

“We want a common, broad financial transaction tax. We’re ready to talk, but the current proposal is the opposite of what was originally intended,” Austria’s Gernot Bluemel told journalists on his way into a meeting of EU finance ministers in Brussels. Without a new a approach, the country will leave the group of 10 still working on the plan, he said.

Gernot Bluemel
Photographer: Alex Halada/AFP via Getty Images

Germany’s Olaf Scholz tabled a “final proposal” for the levy...

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