The good people at Bloomberg report that German Chancellor Angela Merkel may revise her call for a financial transaction tax by backing a U.K.-style, European Union-wide stamp duty on share purchases to lure Prime Minister David Cameron back into the European fold.
Germany sees adoption of a stamp duty as a means to win U.K. support for a levy that covers the whole EU, German Economy Minister Philipp Roesler said today in an advance copy of an interview with the Rheinische Post newspaper. Germany has a “special interest” in having Britain involved, he said….
An EU-wide tax on share transactions, like that in force in the U.K., would help Merkel appease voters frustrated with the role of banks in the financial crisis and end a conflict with her Free Democratic Party coalition partner, which has resisted a levy in the EU that doesn’t include the U.K.
Read all about it at http://www.bloomberg.com/news/2012-01-19/germany-mulls-european-union-wide-stamp-tax-to-win-u-k-support.html
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