Back in 2011, the European Commission proposed a common European financial transaction tax (FTT). Despite several postponements and a general lack of support across the EU, a co-operation of member states – including France, Germany, and Spain – remain determined to implement the tax. As per the progress report submitted last week to the European Council from the German delegation, the new tax could be based around the existing French FTT model. Details are yet to be finalised, and any adoption of the proposals will require consultation with the European Parliament and unanimous agreement of the participating countries in the Council.

So, there’s some way to go before such a tax could be implemented, but it’s still on the agenda.