AOL.com Video - Financial Trading Tax One Step Closer

VIDEO:News

Financial Trading Tax One Step Closer

Description:Europe looks set for a new financial transaction tax. At a meeting of European Finance ministers in Brussels, 11 countries agreed the new measure, among them France and Germany. Under the plan a small levy would by imposed on any trade of shares or bonds, and financial derivative contracts. The countries backing the move hope it'll tackle high-frequency speculative trades which are blamed for unsettling markets. European Union tax chief Algirdas Semeta. (1:37)

Source: Reuters

Tags: reuters , Algirdas Semeta , anders borg