FILE PHOTO: French Economy Minister Bruno Le Maire and German Finance Minister Olaf Scholz hold a news conference after a Euro zone finance ministers meeting in Brussels, Belgium November 19, 2018. REUTERS/Eric Vidal/File Photo
BERLIN (Reuters) - Germany and France will outline on Monday a joint proposal for a financial transaction tax for the European Union that is based on a model already tested in France, the Sueddeutsche Zeitung newspaper reported late on Sunday.
Under the proposal, revenues from the new tax would help fund a euro zone budget, and participating countries would be allowed to use the revenues to offset their contributions to the wider EU budget, the newspaper said.
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