The AFG, the French fund association, has issued a strong statement describing the "devastating consequences" of the proposed Europe-wide Financial Transaction Tax (FTT) on the local asset management sector.
The European Council discussions around banking union and future regulation of Europe's banking sector have been outlined by European Commission president Barroso and European Council president van Rompuy in a Q&A session.
Speaking at today's Tripartite Social Summit, European Council president Herman van Rompuy and EC president Manuel Barroso stressed the focus on growth needed to match austerity measures currently in place across the region.