Germany and France Join to Support Tax on Financial Trades

By artappraiser on Fri, 09/28/2012 - 10:14pm |

By James Kanter, New York Times/Global Business, September 28/29, 2012

BRUSSELS — The finance ministers of France and Germany united Friday to raise pressure on E.U. partners like Italy to back a tax on financial trades that could be used to help the economically disadvantaged.

A letter to the Union’s 25 other finance ministers showed Berlin and Paris working together again despite sharp differences over the number of lenders a single banking supervisor for Europe should regulate, and how soon it should go into operation.

Proponents say that the so-called Robin Hood tax could help recoup huge sums of money that governments have spent to save banks by levying a small tax on most share, derivative and bond trades [....]

URL:

http://www.nytimes.com/2012/09/29/business/global/germany-and-france-join-to-support-tax-on-financial-trades.html