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WHEN the European Union (EU) first suggested a tax on financial transactions a decade ago, the idea was savaged by banking lobbyists and nixed by many of the bloc’s members.
THE proposal seeks a softer Brexit for exporters of goods, but a hard Brexit for services. The publication of the UK government’s white paper outlining its approach to Brexit marks a significant and long overdue step towards the UK leaving the European Union.
BEIJING: China’s foreign exchange reserves rose slightly in March to US$3.21 trillion, the central bank said, the first monthly increase since November as cooling expectations of US interest rate hikes eased pressure on the yuan.
SEOUL: South Korea’s new president faces a hostile North Korea that seeks nuclear weapons, a moribund domestic economy and now new pressure on its exporters and growth prospects from neighbouring Japan’s yen devaluation.
BERLIN (Reuters) - The German Finance Ministry does not expect a financial transaction tax for 11 euro zone countries to be introduced before 2016, according to a report in Germany's Wirtschaftswoche business weekly magazine.
ROME: German Chancellor Angela Merkel resisted pressure on Friday for common euro zone bonds or a more flexible use of Europe's rescue funds but agreed with leaders of France, Italy and Spain on a 130 billion euros ($156 billion) package to revive growth.
PARIS (Reuters) - France's Socialist presidential candidate has become the standard bearer of the European Left's fightback against austerity, but the toned-down additions he is proposing to a German-inspired fiscal pact should prove acceptable to Berlin.