Netherlands Bank blasts EU financial transaction tax proposals

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The introduction of a European-wide financial transaction tax is "undesirable" and would set Dutch banks, pension funds and insurers back €4 billion ($5.22 billion) a year if it is implemented, according to a Netherlands Bank study published on February 6.

Estimates released by the Netherlands Bank suggest that of the €4 billion in funds raised from the financial transaction tax in the country, €2 billion will come from the banks, €1.7 billion from pension funds and €0.3 billion from insurance

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