I missed this in the New York Times last Friday:
The finance ministers of France and Germany united Friday to raise pressure on EU partners like Italy to back a tax on financial trades that could be used to help the economically disadvantaged.
A letter to the Union’s 25 other finance ministers showed Berlin and Paris working together again despite sharp differences over the number of lenders a single banking supervisor for Europe should regulate, and how soon it should go into operation.
“We strongly believe in the need for a fair contribution from the financial sector to cover the costs of the financial crisis,” Pierre Moscovici of France and Wolfgang SchÃ¤uble of Germany wrote in the letter.
But let's also be clear: the optimal revenue for such a tax would be close to zero. Then harmful financial transactions would not be causing damage to the economy.