FTT uncertainty continues to cloud the horizon for hedge funds
The controversial EU financial transaction tax could prove the undoing of some hedge funds if implemented across 11 member states as it now stands. Transaction costs are set to soar
The European Union’s initiative to impose a financial transaction tax (FTT) has been widely condemned by the financial markets industry while politicians and officials cling to their belief the levy on all stocks, bonds and derivative transactions will rake in much-needed tax euros. While being implemented by only 11 EU eurozone members, its impact is set to be massive and potentially suicidal for some countries.
Among the 11 are France, Italy and Germany. Both France and Italy have already
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