Germany's Merkel calls bonus tax "a charming idea":

12/10/2009 | Reuters

German Chancellor Angela Merkel said the UK's move to tax bankers' bonuses would help the financial industry learn from recent mistakes. However, Germany has committed to a transaction tax. "But still, I think the idea that arose in the City of London ... to have a one-off tax on managers' bonuses is a charming idea that maybe will produce a learning effect," she said.

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