EU Finance Ministers Approve Financial Transactions Tax

11 members will introduce the tax, 16 will not

EU finance ministers have given the green light for 11 eurozone members, including France and Germany, to ready a new tax on financial transactions.

The approval under "enhanced co-operation" rules allows the smaller group to pioneer the tax.

Governments previously failed to agree to impose the tax across the entire 27-member EU or 17-member eurozone.