The official communiqué of the meeting of the French German Financial and Economic Council on 27th of January between Moscovici, Christian Noyer (Head of French central bank), Wolfgang Schäuble and Sigmar Gabriel (German vice chancellor from the SPD) has been published on the website of the finance ministry in Berlin:
The paragraph on the FTT reads (in my translation) as follows:
"(14) France and Germany will make common proposals with all our partners in the Enhanced Cooperation in order to reach a compromise in the next months for a common taxation for financial transactions. The goal is to guarantee a just contribution of the financial markets to the tax revenues, to increase financial stability and to harmonize national regulations. At the same time we want to maintain in a comprehensive way the mechanisms of monetary policy and the financing of the real economy."
The last sentence, although nebulous by intention, indicates the direction. First, there is the word „comprehensive“ (umfänglich). This is very unpleasant, because it might indicate far reaching compromises. As for the mechanisms of monetary policy these are the Repos and public bonds. As for the „financing of the economy“ these might be private bonds but also real economy shares and any derivative linked to financing the real economy.
On the other hand, Sigmar Gabriel seemed not to be very happy with that. So, with enough pressure, there might be some chances to prevent too much watering down.