‘President Nicolas Sarkozy insisted on Tuesday that France must press ahead with a tax on financial transactions to force the issue in Europe, despite concerns that a unilateral move would isolate the country and damage the French financial services industry. “Obviously France should do this with others. But if France waits for the others to decide to tax finance, finance will never be taxed,” he said ...
‘Ministers plan to introduce legislation in France next month – clearly hoping that Germany and other countries will soon follow. Mr Sarkozy, facing re-election in April, is anxious to show voters he is at least taking steps to deliver on a longstanding pledge to exact retribution from the financial sector for sparking the financial crisis in 2008.
‘He has been frustrated by opposition to a global FTT by the US and China, and in the European Union by Britain. He also faces furious pushback from the French financial industry to any move by France to go it alone.’
‘President Nicolas Sarkozy insisted on Tuesday that France must press ahead with a tax on financial transactions to force the issue in Europe, despite concerns that a unilateral move would isolate the country and damage the French financial services industry. “Obviously France should do this with others. But if France waits for the others to decide to tax finance, finance will never be taxed,” he said ...
‘Ministers plan to introduce legislation in France next month – clearly hoping that Germany and other countries will soon follow. Mr Sarkozy, facing re-election in April, is anxious to show voters he is at least taking steps to deliver on a longstanding pledge to exact retribution from the financial sector for sparking the financial crisis in 2008.
‘He has been frustrated by opposition to a global FTT by the US and China, and in the European Union by Britain. He also faces furious pushback from the French financial industry to any move by France to go it alone.’
