December 9, 2015 / 4:46 PM / 2 years ago

France says financial transaction tax should raise up to 15 bln eur

PARIS, Dec 9 (Reuters) - The 10 euro zone countries planning to apply a tax on financial transactions should seek to raise 10 billion-15 billion euros ($11 billion-16.5 billion) with the levy, French Finance Minister Michel Sapin said on Wednesday.

Talks between the countries have been dragging on since 2011 as they have struggled to agree on tax rates and what securities would be covered.

The countries - Germany, France, Italy, Austria, Belgium, Greece, Portugal, Slovakia, Slovenia and Spain - had hoped to reach a deal this month but agreed on Monday to give themselves until the middle of next year to work out the remaining sticking points.

“France wants a target to be set with the 10 countries in question (to raise) at least 10 to 15 billion euros,” Sapin told lawmakers at the lower house of parliament.

“We want this 10 to 15 billion to go to developing countries, in particular to fight the effects of climate warming,” Sapin said.

$1 = 0.9103 euros Reporting by Yann Le Guernigou, Writing by Leigh Thomas, Editing by Angus MacSwan

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