European Union: Council adopts decision authorizing 11 Member States to proceed with FTT

February 1, 2013

On 22 January 2013, during the 3,215th meeting of EU finance ministers (ECOFIN) in Brussels, the Council of the European Union adopted a decision that authorizes the following 11 Member States to proceed with the introduction of a financial transactions tax (FTT) through enhanced cooperation:

  • Austria
  • Belgium
  • Estonia
  • France
  • Germany
  • Greece
  • Italy
  • Portugal
  • Slovenia
  • Slovak Republic
  • Spain

The European Commission will now make a proposal defining the substance of the enhanced cooperation, which will have to be adopted unanimously by the participating Member States.

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