Economics

Austria Threatens to Quit Effort to Create an EU Financial Tax

  • Latest proposal doesn’t achieve original goal, Bluemel says
  • Ministers have talked about a transaction tax since 2011
Gernot BluemelPhotographer: Alex Halada/AFP via Getty Images
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Austria’s new finance minister dismissed a proposal by his German counterpart on how to tax financial trades in the European Union, throwing the years-long effort into disarray.