Tuesday, September 15, 2009

Germany Wants Global Tax On All Financial Markets - Idea To Be Pushed In Pittsburgh G20 Summit

UPDATE 1-Germany's SPD Woos Left With Tax On Financial Deals

Fri Sep 11, 2009 10:00am EDT

* SPD unveils plan to tax financial transactions

* Step could be aimed at wooing left-wing voters

By Hans Busemann

BERLIN, Sept 11 (Reuters) - Germany's Social Democrats (SPD) have unveiled plans to push for a global tax on financial market transactions, in an apparent attempt to win over left-leaning voters weeks before election polls suggest they will lose.

In a paper by SPD chancellor candidate Frank-Walter Steinmeier and Finance Minister Peer Steinbrueck, the party outlines steps to make banks bear some of the costs of the economic crisis.

Click here for entire article


Steinbrück Seeks Global Tax

By Bertrand Benoit in Berlin , Financial Times, 11 Sep 2009

Germany's finance minister has called for a global tax to be imposed on financial transactions in an effort to end what he derided as "binge-drinking" on markets.

In one of the more radical steps mooted by a world leader to reform the financial system, Peer Steinbrück said receipts from the tax would be used to repay the cost to governments of tackling the crisis, including fiscal stimuli and bank rescue operations.

Click here for entire article

For timely understanding on Global Governance issues such as this subscribe to the monthly newsletter today! - Johnny

No comments: