Leaders call for global bank tax

Friday, June 18, 2010

German Chancellor Angela Merkel and French President Nicolas Sarkozy have renewed calls for a global bank levy and a financial transaction tax.

The two leaders said they would call for the measures in a joint letter to the president of the G20 ahead of a summit later this month.

G20 finance ministers had distanced themselves from bank taxes at a meeting earlier this month.A bank tax would protect taxpayers from having to bail-out banks in the future.

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