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France, Germany back EU tax on derivatives -French finmin source
February 19, 2014 / 4:22 PM / 4 years ago

France, Germany back EU tax on derivatives -French finmin source

PARIS, Feb 19 (Reuters) - France and Germany agree in principle that a planned pan-European tax on financial transactions should cover all derivatives products, a source close to French Finance Minister Pierre Moscovici said on Wednesday.

“France and Germany agreed on the principle of a financial transactions tax covering all derivatives,” said the source.

The source was speaking after Moscovici met his German counterpart Wolfgang Schaeuble as part of a joint Franco-German cabinet session in Paris, a regular event between the two EU founding members.

EU sources said France had resisted enlarging the scope of the tax to cover derivatives, a revenue-earner for its banks. (Reporting by Jean-Baptiste Vey; Writing by Mark John)

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