On January 22, European finance ministers gave their approval for the launch of a "Tobin tax" by 11 of Europe’s member states, including Germany, France and Italy. The United Kingdom and Luxembourg will notably not be taking part.

Following the approval granted by the European Commission in October and the European Parliament’s endorsement in November, the decision is the ultimate green light for EU states to establish the measure. However, the precise details of the tax have yet to be determined.