CMC NEWS

Following the public consultation of the European Commission on taxation of the financial sector (22nd February 2011) CMC was invited to submit its written opinion on the issue.

The position defends the appropriateness of setting up a Financial Transactions Tax (FTT), also known as Tobin Tax in honor of economist and Nobel Laureate in 1981 James Tobin.

The main stands of the position refer to how a Tobin-like Tax could generate significant revenues at EU level, could help to reduce speculative financial operations, increase market transparency and efficiency ensuring sustainable and fairer growth.