Sunday, January 29, 2012

Financial Transaction Tax in France to Pay National Debt - Way to Go

The 0.1% levy will be introduced in August regardless of whether other European countries follow suit. 
The tax is part of a package of measures set out by the president to promote growth and create jobs. 
Mr Sarkozy faces a presidential election in April, but is currently trailing in the opinion polls behind his Socialist rival, Francois Hollande. 
In an interview with French television, Mr Sarkozy said he hoped the tax would push other countries to take action. 
"What we want to do is create a shockwave and set an example that there is absolutely no reason why those who helped bring about the crisis shouldn't pay to restore the finances," he said.