Belgian Finance Minister: Taxing Financial Transactions

As the debt crisis in Europe becomes more severe, finance ministers throughout the region have conducted numerous meetings in hopes of coming up with a new solution.

According to Didier Reynders, Belgian Finance Minister, EU finance ministers should consider methods of taxing monetary transactions in order to relieve the worsening debt crisis.

“If it’s possible in the European Union it will be a good evolution. If it’s not we will maybe do the same in euro zone only,” he said before a meeting with the finance ministers in Brussels.

“The commission has proposed to put such taxation into force in 2014. If it’s not possible in 2014 in the European Union we need to do it at the same scale in the euro zone, so it must be possible,” he continued.

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