MNI reporting from their usually reliable EU sources that the ink will be dry on a deal to be announced on the Financial Transaction Tax for 11 member states at next week’s ECOFIN meeting in Brussels next Tuesday.

Of the 27 EU member states, the 11 so far going ahead with the FTT are Germany, France, Italy, Spain, Belgium, Austria, Portugal, Greece, Slovenia, Slovakia and Estonia.

The UK meanwhile had their challenge against imposition of the tax rejected this week

EU sources have told MNI:

“Germany and France have the lead on this and they are going to be discussing whether or not they will be able to present something on Tuesday.My understanding is many of the key member states would like to have a political agreement before the European elections …. They want to announce that we have progressed on key elements of the FTT before the elections … This is the moment as it is the last ECOFIN before the elections and they would like to have more progress on the FTT. There is momentum.”