Global levy on all financial transactions requested the Finance Minister of Germany

Germany’s Minister of Finance Peer Steinbrueck urged to introduce a global tax on financial transactions and thereby halt the period of „blowout“ of financial markets. Funds that will come into the treasury of the States of this tax will be used to offset the costs of governments to the crisis, including fiscal incentives and rescue operations for banks. According to sources close to Steinbrueck, the proposed tax of 0.005% will be levied on all financial transactions undertaken by banks, insurance companies and investment funds.

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Finance