On June 16, 2016 the Austrian Ministry of Finance issued a press release titled “EU Financial Transaction Tax: Austria’s compromise accepted – Technical details are to be worked out by September, then a final decision is to be made”.

According to the press release, on June 16, 2016 the ten countries that are in favor of an enhanced cooperation regarding a Financial Transaction Tax unanimously supported Austria's proposal for a compromise. It is furthermore stated that the plan is to work out the technical details (in particular the potential implications of the introduction of a Financial Transaction Tax) by September and then come to an agreement on them/take a vote. In the press release it is also stated that the Austrian Minister of Finance feels that if parties do not find a solution by September, they will likely also not come to an agreement.

In the press release it is further stated that the Slovenian Minister of Finance has to report to the Slovenian parliament and can then make further decisions. According to the Austrian Minister of Finance, Belgium and Slovakia will also be in favor of the introduction of a Financial Transaction Tax, if the issues/concerns they have raised can be resolved by the Task Force.

Unfortunately the press release does not provide any further information on the nature of the compromise.

Click here to be forwarded to the press release issued by the Austrian Ministry of Finance (The press release is in the German language).

Click here to be forwarded to an arrival and doorstep interview with the Austrian Minister of Finance at the Eurogroup meeting.

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