Imposing a financial transaction tax (FTT) in 11 European Union member states would be illegal, according to the bloc's lawyers.
The controversial tax aims to discourage risk-taking by taxing transactions of shares, currencies and bonds.
The 14-page legal opinion concludes the move would exceed member states' tax powers.
It adds that the measure is also incompatible with the EU treaty.
Source: BBC. Read full article. (link)