Eurozone nations delay financial transaction tax deal until 2016

Supporters argue it can avoid a repeat of failings of the financial markets which led to 2008 crisis


EUROZONE nations on Tuesday failed to secure a deal on a controversial financial transactions tax but said they aimed for an agreement in mid-2016 despite the furious opposition of Britain.

The plan was first proposed in 2011 to force banks and investment houses to pay for the excesses which led to the 2008 financial crash and the eurozone debt crisis but has been mired in disagreements since.

On Tuesday 10 eurozone countries said that they had agreed on fundamental aspects of the tax, but...

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