Slovakia to join EU financial transaction tax initiative

LUXEMBOURG, Oct 9 (Reuters) - Slovakia will join a group ofEuropean Union countries that want to introduce a common tax onfinancial transactions, Vazil Hudak, the country's secretary ofstate told his EU counterparts during discussions in Luxembourgon Tuesday.

The commitment means that Germany and France now havereached the threshold of nine EU countries needed to press aheadwith introducing the levy on their own.

The European Commission, the EU executive and the partyresponsible for initiating legislation, has said it is ready tomove ahead with developing the proposal as soon as ninecountries have formally applied to adopt it.

(Reporting By Jan Strupczewski)

((jan.strupczewski@thomsonreuters.com)(+32 2 287 68 37)(ReutersMessaging: jan.strupczewski.reuters.com@reuters.net))