French Finance Minister Michel Sapin said that talks among 10 European countries for a financial transaction tax ended without results on reservations from Belgium, Slovakia and Spain.

"We have reached a point of deadlock," he said.

Germany, France, Italy, Austria, Belgium, Estonia, Greece, Portugal, Slovakia, Slovenia and Spain originally agreed to create the tax, which should help recover public funds used to bail out banks during the financial crisis. But Estonia said last year that it would not participate in creation of such tax.