EU taxation commissioner Algirdas Semeta.

Europe’s plan for an expansive financial transaction tax hit a wall after the top legal adviser to finance ministers concluded it exceeded national ju(...)

The EU has proposed a broad-based tax on stocks, bonds, derivatives and other trades that could be collected worldwide by France, Germany and nine other EU nations that have so far signed up. Photograph: Kai Pfaffenbach/ REUTERS

European Union lawyers are clashing over whether a proposed 11-nation financial-transaction tax is legal under the 28-nation bloc’s governing treaties(...)

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