Merkel says yes to Tobin tax

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Merkel lines up transaction tax - Accountancy Age.

Sentiment for a levy on financial institutions was stronger today after German finance minister Angela Merkel called for an international finance tax.

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

Very good news.

And the right response to the current situation where excessive liquidity is causing serious harm.

Read more on financial transaction taxes here.