Looks like a clash of the Titans at this weekend’s G-20 as the US and Canada balk…
The three nations have issued a joint statement on the tax, saying banks must make a fair contribution to reflect risks they pose to the financial system.
Separately, Merkel says she plans to look at reducing VAT rates in the current parliament. That might help shore-up her sagging popularity…
EUR/USD has recovered to the 1.2280 level from near 1.2250.
