Germany Should Adopt Financial Transaction Tax, Scholz Says

Law360 (April 22, 2021, 11:38 AM EDT) -- Germany should stop resisting a financial transaction tax, the country's finance minister, Olaf Scholz, said in an interview published Thursday, renewing calls for a tax that supporters have wanted on a European level for nearly a decade.

Speaking in an interview with the financial newspaper Börsen-Zeitung, Scholz said such taxes exist in large countries in Europe, including the United Kingdom, France, Italy and Spain.

Germany should no longer shy away from such a tax, he said, blaming the center-right Christian Democratic bloc, the senior partner in the government, for failing to support a financial transaction tax. The Christian Democratic Party, CDU,...

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