Europe's finance ministers seek progress on financial transactions taxMarch 31, 2012 - 15:25 AMT PanARMENIAN.Net - Europe's finance ministers Saturday, March 31, made another effort to achieve a breakthrough on a disputed financial transactions tax, as Germany unveiled a plan to bring on board a sceptical Britain, AFP reports. Ministers entering the second of a two-day meeting here expressed cautious support for a proposal issued by German Finance Minister Wolfgang Schaeuble to introduce a tax only on trade in company shares before broadening it out. Acknowledging that resistance from several countries had delayed the tax, proposed by the European Commission in September 2011, that aims to make the financial sector pay for the crisis, Schaeuble proposed an "intermediate step." "This would entail a tax payable on all transactions involving shares of corporations listed on a stock exchange, with the tax levied according to the place where the corporation has its registered office," said the German plan. "Negotiations on the Commission's proposal for a common system of financial transaction tax should not be abandoned or postponed," concluded the proposal, obtained by AFP. Finland's Finance Minister Jutta Urpilainen threw her country's support behind the German plan, as did her French counterpart Francois Baroin. Schaeuble's proposal is "wise, it is supported," Baroin told reporters as he entered the meeting. "We need to advance on this topic," added the minister, as talks have got bogged down for months. Top stories Yerevan has dismissed Turkey’s demand to shut down the Armenian nuclear power plant as “inappropriate”. Armenia will loan 2.9 billion drams to Nagorno Karabakh (Artsakh), according to a draft government decision. The Ministry of Ecology and Natural Resources of Azerbaijan has “strongly condemned” Armenia’s decision. Kerobyan has said that for the first time in the history of Armenia, the volume of foreign direct investments amounted to about $1 billion. Partner news | Titus, Bilirakis lead legislation to sanction Azerbaijani war criminals Representatives Dina Titus (D-NV) and Gus Bilirakis (R-FL) have introduced the bipartisan legislation. Azerbaijan must respect human rights, Scholz tells Aliyev German Chancellor Olaf Scholz has called for greater respect for human rights in Azerbaijan. Armenia: Defense Ministry warns against involving army in political processes The Ministry’s statement came after a video surfaced online, showing soldiers joining the protests in Tavush. Scholz hopes Armenia-Azerbaijan peace treaty will be signed this year German Chancellor Olaf Scholz hopes that a peace treaty between Armenia and Azerbaijan will be signed this year. |