The European Commission has said it is not giving up on a planned financial transactions tax for 11 EU countries after a legal opinion said it was in breach of EU law.
"The European Commission is absolutely confident in the legality of the tax we have proposed. We reject any claims that it goes against the treaties or that it compromises the single market," EU tax commissioner Algirdas Semeta said on Saturday (14 September) after a meeting of EU finance ministers in Vilnius.
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