Finance ministers on Friday (15 November) failed to reach a political agreement to impose greater bank transparency rules.
Both Luxembourg and Austria opposed the measure, which would allow governments to collect information on income from foreign accounts.
The political agreement on the draft proposal on taxation on savings income requires the full backing of all 28 ministers.
Luxembourg’s Luc Frieden defended his country position not to put a rapid end to bank secrecy.
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? LoginNikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.
Nikolaj joined EUobserver in 2012 and covers home affairs. He is originally from Denmark, but spent much of his life in France and in Belgium. He was awarded the King Baudouin Foundation grant for investigative journalism in 2010.