Slovakia will, ČR won't have financial transaction tax

Luxembourg, Oct 9 (CTK) - Slovakia has decided to join the EU countries which want to introduce financial transaction tax but, as Czech Finance Minister Miroslav Kalousek said Tuesday, the Czech Republic does not intend to introduce the tax even when it will not be against such possibility.

Eleven countries have already decided to join the initiative calling for the financial transaction tax in part of the EU. Introduction of the tax in the whole of the EU is not possible because Great Britain has clearly declared its opposition to it, Kalousek added.

"Slovakia announced Tuesday it was joining in," Kalousek noted. "This means there is a sufficient number of countries which can implement this strengthened cooperation," he added.

"The Czech Republic has a clear position. It does not want and will not block the strengthened cooperation of countries which have decided in favour of the financial transaction tax. Nevertheless, the Czech Republic itself does not want to introduce this tax in any case," he stated.

Kalousek believes that if this tax is introduced only in some EU countries, these countries risk that financial transactions will move elsewhere.

"This is nothing that would endanger the single financial market," Kalousek remarked. "Just the opposite, within the single financial market these countries risk that a number of operations will take place somewhere else than in them," he added.

Kalousek conceded that it was possible that some future government decided to join the strengthened cooperation but said he would not like to take part in it.

The strengthened cooperation is an instrument allowing nine or more EU countries to proceed in cooperation in areas that some other country is blocking on the EU level.