[Ticker] Taxes on cigarettes 'no longer' deter smokers, says EU

The European Commission on Monday said the rates of excise duty applied to manufactured tobacco "is no longer as effective in deterring consumption." Their report found that 29 percent of Europeans aged 15-24 are smokers, compared with 26 percent of the overall EU adult population. It also found "unintended high levels of cross-border shopping" given the average price of a pack of cigarettes can range from €2.57 to €11.37.