Euro Countries Should Levy Wealth Tax, Bofinger Tells Spiegel

Indebted euro-area countries should implement wealth taxes as a way to generate funds to offset future bailouts, an economic adviser to German Chancellor Angela Merkel told Der Spiegel magazine.

Peter Bofinger, a member of the German Council of Economic Experts that reports to the chancellery, said a wealth tax would be an alternative to a deposit levy, according to an interview with Spiegel published yesterday.