Austria and Luxembourg have blocked an EU deal to increase tax transparency.
Their finance ministers dug in their heels at a meeting in Brussels on Tuesday (14 May) despite pressure from major EU states.
Speaking to press after the event, EU taxation commissioner Algirdas Semeta described their intransigence as a "great disappointment."
He called on the EU to "get its house in order" on tax evasion and urged EU leaders to "rectify the situation" at a summit next week.
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