BusinessCompany NewsMerkel lines up transaction tax

Merkel lines up transaction tax

Angela Merkel makes surprise call for a global financial tax

Sentiment for a levy on financial institutions was stronger today after
German finance minister Angela Merkel
called
for an international finance tax
.

Chancellor Merkel, speaking prior to a meeting of EU finance ministers
tomorrow, said that a financial tax and stronger regulation would show the world
that Europe had got a grip of the finance industry.

She was opposed to the idea of a bank tax as late as this weekend, according
to reports.

Further reading:

Banking
regulation needs global co-operation

Concern
over EU “Tobin tax” plan

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