Kevin Reed, Accountancy Age, Thursday 20 May 2010 at 16:11:00

Angela Merkel makes surprise call for a global financial tax

Sentiment for a levy on financial institutions was stronger today afterGerman finance minister Angela Merkelcalledfor an international finance tax.

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

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

Further reading:

Bankingregulation needs global co-operation

Concernover EU "Tobin tax" plan