'Fatally flawed' EU tax will hit millions of savers

According to the deVere Group chief executive Nigel Green, the EU's controversial FTT is fatally flawed - and "would not exclusively target high earners from the financial services industry".  As it stands, the FTT is expected to impose a 0.1% tax rate on stock or bond trades, while a financial derivatives contract would receive a charge of 0.01% for every transaction. Green said that the European Commission, the executive body of the EU, should not forge ahead with the tax due to the "negative economic impact" of deterring financial transactions that bring benefits to the wider econo...