Europeans Urge U.S. Action on Financial Transaction Tax

Two European policymakers on Monday called on their U.S. counterparts to rethink opposition to proposals for a small tax on stock purchases and other financial transactions, which proponents say could raise hundreds of billions of dollars for poverty alleviation, action on climate change and financing international development.

Cautious Welcome for ‘Robin Hood’ Tax

Non-governmental organisations across Europe welcomed the move by 11 European Union countries Tuesday to move forward with the introduction of a financial transaction tax (FTT), but they urged national governments to ensure that a part of the revenues would be allocated to development.