French banks threaten exile if Tobin tax imposed

The French Bank Federation warns banks may move large parts of operations abroad if Paris unilaterally introduces 'Tobin tax' on transactions.

Reading articles is for subscribers only. Subscribe now.

The French Bank Federation said the country's banks may be forced to move a large part of their operations abroad if France went ahead unilaterally with a proposed "Tobin" tax on financial transactions, reports Reuters news agency.