Germany and Austria push financial transaction tax
02 March 2011
Angela Merkel said after meeting with her Austrian counterpart on Wednesday that they would like "this financial transaction tax to be accepted by all the Eurogroup's member states".
Germany and Austria are pushing for their partners in the 17-nation eurozone to accept a tax on financial transactions alongside efforts to stabilize the common currency.
Austria's Werner Faymann conceded that it's going to be difficult convincing others, but said the tax is "morally right" and a "question of fairness" in the wake of taxpayer support for the financial sector during the economic crisis.
European Union leaders meet later this month to decide on eurozone reforms.
