Bloomberg News

Schaeuble Sees No Chance for Global Financial Transaction Tax

October 15, 2011

Oct. 15 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble said he wants a financial transaction tax to be introduced in Europe after a meeting of finance officials from the 20 biggest economies showed there is “no chance” for an agreement at global level.

“We also talked about the financial transaction tax,” Schaeuble told reporters after a meeting of finance ministers and central bank governors from the 20 biggest economies. “It became clear, not surprisingly, that we have to introduce it in Europe because there is no chance for a global agreement.”

“We have to do this in Europe and we will do this with great energy” at the next meeting of European Union finance ministers, Schaeuble said.

To contact the editor responsible for this story: Rainer Buergin at rbuergin1@bloomberg.net


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