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Merkel’s Coalition Eases Transaction Tax Stance, Leipziger Says

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June 4 (Bloomberg) -- German Chancellor Angela Merkel’s coalition no longer insists that a financial-transaction tax has to cover at least the 17 euro countries, Leipziger Volkszeitung newspaper reported today, citing a senior coalition member it didn’t name.

After three hours of talks today in Berlin, Merkel and the other leaders of her coalition parties, Horst Seehofer and Philipp Roesler, agreed to aim to apply the levy in as many countries in Europe as possible, the newspaper said.

The opposition Social Democrats, whose support Merkel needs to pass the proposed fiscal pact on budgetary discipline, have said they’ll only vote for the measure if the coalition changes its stance on the transaction tax, the newspaper said.

To contact the reporter on this story: Rainer Buergin in Berlin at rbuergin1@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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