The finance ministers of Germany, France, Britain, Italy and Spain (G5) have written a joint letter to the European Commission about their pilot project which other member states may also join, the German finance ministry said in a statement.
The G5 initiative envisages, as a first step, the automatic exchange of information between the signatory countries concerning investment income. The finance ministers of the G5 express in their letter the expectation that other EU member states will join, in order to set a new standard within the EU on the increased automatic exchange of information", the German finance ministry said.
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