Germany’s Schaeuble: US Likely To Oppose Fin Transaction Tax

BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble said in a
newspaper interview to be published on Sunday that an international
financial transaction tax will likely be opposed by the US.

“It will likely fail due to them,” Schaeuble told German weekly
Frankfurter Allgemeine Sonntagszeitung (FAS). At the G20 gathering in
June it must be decided whether such a tax will be introduced on the
global level, the minister said.

“Otherwise, the [German] federal government will lobby for a
European solution,” he said.

On the issues of a bank levy and a ban on short-selling quick
action is needed as well, Schaeuble said. “Something must happen,
otherwise politics will lose credibility,” he warned.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

[TOPICS: MGX$$$,M$X$$$,M$G$$$,MFX$$$,M$$CR$]