Wednesday, December 7, 2011

British PM threatens to veto EU treaty over financial tax

[ Irish Times ] 7 Dec

BRITISH PRIME minister David Cameron has raised the stakes over Friday’s crucial meeting of European Union leaders, warning that he will veto a new EU treaty unless it guarantees protections for London’s multibillion financial services industry.

The French and the Germans, and some other EU states  want a tax on all financial transactions, but the British argue that that would excessively penalise London – Europe’s dominant financial centre, and has consistently ruled it out.

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