EU think tanks speaks out against FTT

Bruegel is a EU think tank based in Brussels. According to this article in Reuters they have now spoken out against a number of issues that the industry have been rallying against for quite some time. These arguments are now picked up by the Latvian presidency of the EU and quoted in papers for the EU finance ministers.

Bruegel states that an FTT as wanted by 11 EU countries may be detrimental to economic development. They also suggest that the EU should wait with further legislation to have banks isolate their trading activities (market making).

According to Bruegel, the EU needs to set a clear list of priorities to create a true Capital Markets Union (CMU). A CMU can stimulate growth in the EU.