Germany's Schaeuble promotes financial-transaction tax

12/26/2011 | Reuters

German Finance Minister Wolfgang Schaeuble pledged to push for an EU tax on financial transactions. Britain opposes the idea, saying it could hurt London's stance as a global financial hub. Schaeuble also said Europe's sovereign-debt crisis will not lead to a market crash next year. "I consider the situation to be controllable," Schaeuble said. "In the EU, there's a high degree of determination among the member states to stabilize the situation."

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