MEPs approved the proposal of eleven EU countries to introduce a financial transaction tax (FTT). MEPs have long advocated an FTT and they highlight that the 11 member states account for 90% of Eurozone GDP.

The European Parliament approved the resolution by 533 votes to 91, with 32 abstentions to introduce a financial transaction tax (FTT) by only eleven EU member states. The 11 participating countries are Austria, Belgium, Estonia, France, Germany, Greece, Italy, Portugal, Slovakia, Slovenia and Spain. They account for about 90% of Eurozone GDP. The deal reached by the 11 members was agreed in October 2012.

MEPs have long advocated an FTT to make financial market players take more responsibility for resolving the crisis that they caused and to discourage excessive risk-taking in future. They also stressed that the ultimate goal should still be a worldwide FTT, and urges the EU to continue campaigning for it.

The European Parliament also confirmed deal on 2012 and 2013 budget package. The budget package adopted by MEPs in plenary session includes six billion Euros to pay bills in 2012, priority for growth and jobs in next year's budget and a strategy for dealing with payment shortfalls in 2013.