Germany, France, U.K. Propose Bank Levy Before Summit
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Germany, France and the U.K. jointly called for levies on banks’ balance sheets in an attempt to overcome opposition to the proposal by other members of the Group of 20 nations before this week’s summit.
U.K. Prime Minister David Cameron’s government today announced a bank levy as part of that country’s biggest peacetime deficit reduction. France and Germany are also finalizing details of their own bank taxes, according to a joint statement issued by the German government.