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Germany, France Revive Transaction Tax Plan

Germany and France will next month share with European institutions a plan to impose a tax on trading in equities, derivatives and currencies.

Germany and France will next month share with European institutions a plan to impose a tax on trading in equities, derivatives and currencies, The Wall Street Journal reports. They did not indicate the scope of the tax and whether it would be applied on the basis of origin of a trade or the exchange on which it is transacted.

The two countries had earlier supported a similar proposal to tax financial trades. That fell through in the face of resistance from the U.S. and the U.K., as well as concerns over business and jobs moving out of Europe.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Bloomberg.

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