BERLIN Nov 14 German parties discussing
policies for a coalition government are urging the rapid
implementation of a financial transactions tax among EU
countries, covering stocks, bonds, currencies and derivative
contracts, according to a document seen by Reuters.
"We want to swiftly introduce a financial transactions tax
that has a broad basis at a low tax rate as part of strengthened
cooperation within the EU," the document, prepared by a working
group on Europe and banking regulation reads.
"This tax should cover all financial instruments, especially
stocks, bonds, investment assets, foreign exchange transactions
and derivative contracts."
Merkel's outgoing centre-right government supported the idea
of an FTT as a way of making banks contribute to the cost of
cleaning up after the financial crisis, but fewer than half of
the EU's 28 members back such a move.
An FTT is a pet issue of the centre-left Social Democrats
(SPD), with whom Merkel's conservatives are currently in
coalition negotiations, and Berlin could therefore renew its
push for the tax once a new government is formed.
To become policy, the document must still be approved by a
bigger panel led by Chancellor Angela Merkel and other party