Equity derivatives in scope for FTT, say experts

But broad-based European tax unlikely to gain quick traction

Several EU countries are pushing for a financial transactions tax by 2016

Experts say a limited, phased-in European tax on derivatives is back in scope after 11 EU member states agreed this month to launch a financial transactions tax (FTT) by January 1, 2016.

The finance ministers of Austria, Belgium, Estonia, France, Germany, Greece, Italy, Portugal, Slovakia, Slovenia and Spain say the FTT should have the widest possible base and low rates, while taking into account the economic impact of the potential relocation of financial services.

Experts agree, however, that