Merkel says European transaction tax must be "tailor-made"

06/17/2013 | Bloomberg

German Chancellor Angela Merkel has indicated that she's sensitive to concerns about Europe's proposed tax on financial transactions, as she recommitted her government to the levy. "We are aware of the fact because this tax is not introduced globally that it needs to be a tailor-made kind of tax that does not have the effect that you have described," such as hurting the economy, Merkel said. "That would obviously be a very bad thing to do."

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