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Eurozone wants to tax banks: report

18 July 2011 No Comment

THE 17 Eurozone countries want to impose a tax on banks to involve the private sector in paying for the rescue of indebted Greece, according to German daily Die Welt.

The tax would target even banks ‘not directly involved in Greece’, the newspaper wrote on Monday, citing highly-placed diplomatic sources involved in the talks.

The plan also envisages that the private banking sector will ‘contribute to the repurchase of Greek bonds,’ it wrote, without giving further details.

Eurozone countries are set to meet in Brussels on Thursday for an emergency summit to stop Greece toppling into default and dragging bigger euro economies into deeper trouble.

But Die Welt said influential individuals at the International Monetary Fund were against the institution’s participation in a new Greek bailout.

‘Many people at the IMF have had enough’ and seriously doubt that Greece can pull off the economic reforms required for long-term stability, the newspaper quotes European diplomats as saying.

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