Danish governor rejects financial transaction tax


Per Callesen, a National Bank of Denmark governor, revealed his concerns at the financial transaction tax (FTT) proposed by the European Commission in a speech last week.

He said the "real and most important issue" regarding the tax was its potential impact on how should the "detailed machinery of financial markets" function. The FTT, he said, is effectively a "tax on market liquidity" and conflicts with the intention of global regulation to increase banks' liquidity buffers.

"Overall an FTT

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