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Eurozone to miss deadline for FTT deal, 2016 start in doubt: diplomats

Monday, December 8, 2014 - 18:18
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Eleven eurozone countries have been unable to agree on the broad outlines of a tax on financial transactions by a year-end deadline, casting doubt over whether the disputed levy can be implemented as planned in early 2016, diplomats said on Monday.

[BRUSSELS] Eleven eurozone countries have been unable to agree on the broad outlines of a tax on financial transactions by a year-end deadline, casting doubt over whether the disputed levy can be implemented as planned in early 2016, diplomats said on Monday.

Finance ministers were due to sign off on the plan at a meeting on Tuesday but diplomats preparing the measures said differences over how to levy the tax had not been bridged.

"An agreement will not be possible by the end of the year," said a senior diplomat close to the talks. Asked what that meant for a 2016 start date, a second diplomat said: "It will need a lot of political will." REUTERS