August 25, 2010
This story about the plans for a banking levy was published by EurActiv on 25th August 2010.
Upcoming talks between EU ministers will seek to calm fears that banks will face double taxation as countries begin to adopt anti-crisis plans.
As Germany’s cabinet adopts plans for a bank levy today, finance officials fear German banks will face a double charge, one at home and the second in the UK, where similar plans are being cooked up.
The next meeting of EU finance ministers in Brussels, scheduled for 6-7 September, will likely try to resolve the issue, say EU diplomats.
This glitch will be discussed within an EU framework, a diplomat told EurActiv.
Germany’s deputy finance minister, Jörg Asmussen, reportedly dispatched a letter to his counterparts in the UK Treasury, which warned that German banks could be doubly hit by both countries’ plans for a bank levy, according to the Financial Times.
An EU diplomat said Asmussen’s letter was merely intended for “informative purposes for countries that have more advanced plans for a bank levy”.
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