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(Title) French President Nicolas Sarkozy and German Chancellor Angela Merkel’s wish to be decided at the next meeting of the Group of G20, which will meet on June 26-27 in Toronto, the imposition of taxation banking and financial transactions.
This request, which is already expressed at the meeting of two leaders in Berlin on June 14, reiterated in a letter sent to Canadian Prime Minister Stephen Harper and the leaders of states and governments the G20.
Â«France and Germany, according to the conclusions of the European Meeting of June 17, will react to an international agreement imposing a tax on banking institutions to ensure an equal contribution and motivate to prevent systemic risk, “write the letter to both leaders.
At the same,” the contribution that should be included in the enhanced framework of crisis management. It should be based on the risks and reduce the moral hazard that underlie systemic financial institutions Â».
Also hope the G20 to work” an international agreement on a global taxing the financial markets, and the tax on financial transactions . This tax would be an additional element of the contribution of financial sector Â».
Stressing that” the economic recovery may be undermined by new financial strains, the two leaders also offered a list of measures for regulating the financial sector including the “guaranteed maximum transparency” for liquidity and capital of banks, measures against entities for withholding tax information on money laundering and terrorist financing.
According to Sarkozy and Merkel, The G20 has to “improve the process for rating the debtÂ».
P.A.C. – Photographers Against Censorship
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