Legislative Observatory
European Parliament
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Enhanced cooperation in the area of financial transaction tax

2012/0298(APP)

The Committee on Economic and Monetary Affairs adopted the report by Anni PODIMATA (S&D, EL) on the proposal for a Council decision authorising enhanced cooperation in the area of the creation of a financial transaction tax.

The committee recommends that the European Parliament gives its consent to the draft Council decision, without prejudice to which Member States participate in the enhanced cooperation.

Members recall that in its resolution of 23 May 2012, Parliament stated that:

  • FTT will truly achieve its objectives if introduced at a global level. It also highlighted the importance of the Union to lead efforts to reach agreement on FTT at a global level by means of setting an example for the introduction of FTT ;
  • the model for FTT proposed by the Commission would be a suitable basis for implementation within a group of Member States should they choose to move faster by means of enhanced cooperation.

The Council is called upon to adopt a decision pursuant to Article 333(2) TFEU, stipulating that, when it comes to the proposal for a Council Directive implementing enhanced cooperation in the area of FTT pursuant to Article 113 TFEU, it will act under the ordinary legislative procedure.