FTT uncertainty continues to cloud the horizon for hedge funds

Taxing tax

FTT costs could stop hedge funds trading European markets

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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