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Merkel says will campaign for financial transaction tax
June 11, 2012 / 3:37 PM / 5 years ago

Merkel says will campaign for financial transaction tax

BERLIN (Reuters) - German Chancellor Angela Merkel said on Monday she would campaign for a financial transaction tax, addressing concerns in the centre-left opposition that her government was only using the issue as a way to get euro crisis legislation through parliament.

“The federal government, as agreed with the opposition, will campaign for (a financial transaction tax),” Merkel said, adding that Germany needed both functioning banks and justice in the financial sector.

German weekly Der Spiegel reported on Sunday that Merkel’s Chief of Staff, Ronald Pofalla, had said such a tax would not get passed in the current legislative period so the centre-right coalition could support the idea in principle knowing it would not have to act on it anytime soon.

Reporting by Edward Taylor and Maria Sheahan; Writing by Michelle Martin

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