European Progress Toward a Financial Transactions Tax

[marmar]

(Truthout) Germany's major political parties have agreed on the need to impose a financial transactions tax (FTT) as part of a broad package of economic reforms to be undertaken by a coalition government.

The German federal elections in September 2013 gave the conservative Chancellor Angela Merkel 311 seats in the German Parliament, just short of a majority. As a result, Merkel is negotiating with other parties to form a governing coalition.

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For good or for bad, Germany is the economic and political heart of the European Union. Europe's largest country and largest economy has an even larger influence on European politics. In many ways, as goes Germany so goes Europe.

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Now, Germany is leading the way toward a European FTT. Until the German coalition negotiations, the FTT had faded from the European agenda in the face of determined opposition from big banks and other business interests. .................(more)

The complete piece is at: http://truth-out.org/opinion/item/20028-european-progress-toward-a-financial-transactions-tax