G20 communique to kill global bank tax idea-source

cory777

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Sat Jun-05-10 01:36 AM
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G20 communique to kill global bank tax idea-source

Source: Reuters

South Korea, June 5 (Reuters) - The G20 will put to rest proposals for a global bank tax, introducing new language in their communique that recognizes some countries did not have bank bailouts and therefore may seek alternative policies, a senior G20 official said on Saturday.

Finance ministers and central bank governors meeting in Busan, South Korea, will issue a communique that agrees to the principle that banks should bear the costs of future financial crises. But their final statement will recognize "a range of policy approaches" to achieving that goal, the official said, speaking on condition of anonymity.

Read more: http://www.reuters.com/article/idUSSET00003620100605?type=marketsNews

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