AOL.com Video - EU Launches €35bln Plan to Tax Trading

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EU Launches €35bln Plan to Tax Trading

Description:The European Commission set out how its financial transaction tax (FTT), aimed at making banks pay for taxpayer help they received in the financial crisis, would apply from next January. Only 11 of the EU's 27 states support it But Europe's controversial new Financial Transaction Tax has finally been formally proposed in Brussels. The EU wants to raise 35 billion euros a year to help recoup some of the money paid out by taxpayers during the financial crisis. (1:38)

Source: Reuters

Tags: reuters , Algirdas Semeta , europe