August 31, 2011 / 12:15 PM / in 6 years

Czech PM rejects transaction tax

PRAGUE, Aug 31 (Reuters) - The Czech Republic does not agree with the idea of introducing a tax on financial transactions, Prime Minister Petr Necas said on Wednesday.

An intention to introduce a Europe-wide transaction tax has been agreed by Germany and France, looking to shore up their budgets in the face of euro zone’s debt crisis.

Necas told a news conference that such a tax would hurt clients via higher banking fees. The Czech Republic is an EU member but has not adopted the euro currency.

Reporting by Robert Mueller, writing by Jan Lopatka

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