Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Schaeuble Will Push For Global Transaction Tax, Abendblatt Says

G-20 Leaders Mull Whether to Press for Yuan Flexibility
A woman poses for a photograph with an art installation depicting a bundle of Chinese one-hundred yuan notes in Beijing, China. Photographer: Raul Vasquez/Bloomberg

Nov. 3 (Bloomberg) -- German Finance Minister Wolfgang Schaeuble wants to discuss the introduction of a global financial transaction tax at a Group of 20 summit starting today in Cannes, German daily Hamburger Abendblatt reported, citing an interview.

Failure to reach an agreement on the tax at the G-20 level may require further talks with the U.S., Schaeuble said, according to the newspaper. Separately, European Union finance ministers will discuss the tax at a meeting in Brussels next Tuesday, and, if those talks are unsuccessful, euro-area countries should consider introducing the tax on their own, he said.

The EU proposed a financial transaction tax that would take effect in 2014 and raise about 57 billion euros ($78 billion) a year. Germany and France have led a push for global implementation.

To contact the reporter on this story: Jan Dahinten in Singapore at jdahinten@bloomberg.net

To contact the editor responsible for this story: Alan Soughley at asoughley@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.