Germany Source: G20 Won’t Approve Global Fin Transaction Tax

Author: Market News International | Category: News

BERLIN (MNI) – G20 leaders at their summit this week in France
won’t decide on the introduction of a financial transaction tax at the
global level, a senior German government official predicted Monday.

“It doesn’t look like this at the moment,” the source said,
explaining that there exists no majority in the G20 for such a tax.

The G20 will likely debate cooperation between the International
Monetary Fund and the European rescue fund EFSF, the official said.

The German government is of the opinion that the IMF disposes of
sufficient funds and needs no increase. Yet, Germany would support the
idea of making the IMF’s short-term credit line more flexible, he said.

Another high-ranking government official said the Europeans won’t
use the G20 summit to seek investments to enhance the capacity of the
EFSF. This was the job of EFSF CEO Klaus Regling, he said.

–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com

[TOPICS: M$X$$$,M$G$$$,MGX$$$,MT$$$$,MFX$$$,M$$CR$]

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