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Germany Wants Transaction Tax Tied to ESM Bank Aid, Focus Says

Germany wants to tie aid for banks from the European Stability Mechanism to a financial transaction tax that would be used to fund the permanent rescue facility, reducing the risk for German taxpayers, Focus reported, without saying how it obtained the information.

Only banks in countries that apply the tax would qualify for direct aid, according to the report.

To contact the reporter on this story: Annette Weisbach in Frankfurt at aweisbach1@bloomberg.net

To contact the editor responsible for this story: Frank Connelly at fconnelly@bloomberg.net

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