Commission: 'Robin Hood' tax would save EU countries billions

Member states will pay 50 percent less into the general EU budget by 2020 if they agree to implement a financial transactions tax (FTT), the EU commission said Thursday (22 March).

In a last-ditch attempt to undermine government opposition to both this specific 'Robin Hood' levy and the general idea of Brussels raising taxes, EU budget commissioner Janusz Lewandowski put some concrete savings figures on the table.

By the commission's estimate, Germany would pay €10.7 billion less ...