FF calls on government to resist financial transactions tax

Fianna Fáil has called on the government to oppose any proposal for a financial transactions tax arising from yesterday's EU agreement on fiscal stability.

The party's Finance spokesperson Michael McGrath thinks jobs could be at risk unless the Taoiseach fights Ireland's corner.

Britain was the only country to opt out of the deal after Prime Minister David Cameron failed to get concessions for the UK financial services sector.

But Fianna Fáil is claiming the Irish Financial Services Centre could now suffer a major disadvantage compared to the City of London if a transaction tax goes through.