EU commission proposes new tax
The president of the EU Commission, Jose Manuel Barroso has adopted a proposal for a financial transaction tax on EU members
The tax would raise about 57bn euros ($78bn; £50bn) a year and would come into effect at the start of 2014.
The UK has said it will "resist" proposed by the European Commission.
Mr Barroso said the tax "was a question of fairness" and that "the banking sector should make a contribution to society."
28 Sep 2011