Raphael Rosenblatt | Bloomberg Law European Commission Press Release (Sept. 28, 2011) As a result of the world financial crisis, public debt in all 27 European Union (EU) member countries rose from below 60 percent in 2007 to 80 percent for the foreseeable future. Although, according to the EU, the financial sector "played a role in the origins of the economic crisis," to date, most costs of providing bailouts have come from EU member governments or taxpayers. Additionally, the EU noted that the financial sector enjoys reduced tax obligations, as compared to other sectors.
Financial Transaction Tax
Objections by Trade Associations
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