Union Group Chief Kauder: "The levy has become a symbol." Source: AP
HB BERLIN. In the black-yellow coalition threatens new controversy: The Union sources said now but at least one pan-European financial transaction tax – goes on clear and thus reverse course to the coalition partner FDP. On Monday evening, said the board of the CDU / CSU parliamentary group for information of Reuters from among the participants with a large majority for such a charge-exchange traded financial transactions. Earlier, in a number of CSU politicians had publicly backed the financial transaction tax – and indicated that it could make it their assent to the EU rescue.
Direction of the Union is now a Europe-wide introduction of the tax, even if this should not be internationally enforceable. This route is also a conflict with Chancellor Angela Merkel and CDU leader be avoided, which had made yet on Sunday to the lack of international acceptance and rejection of the International Monetary Fund (IMF). The proposal was agreed with Finance Minister Wolfgang Schäuble, who was to urge the work of EU finance ministers in Brussels on a Europe-wide solution is emphasized in fraction circles.
The CSU went on Monday even one step further and linked its approval of the rescue package to the claims.
"The agreement depends on whether there are binding agreements within the coalition for the strengthening of the stability criteria," said Stefan Müller, Parliamentary Secretary of the CSU Group in the Bundestag to Reuters. In addition, there must be binding commitments on financial regulation. "What we need is a financial transaction tax, a regulation of rating agencies and a prohibition of uncovered short sales."
Woo the consent of the opposition
With the U-turn, the Union is moving back towards the SPD and the Greens who advocate for a long time for such exchange rate. Chancellor Merkel calls for days for an approval of the opposition to the 750-billion. Euro heavy rescue for the European common currency.
CDU / CSU parliamentary leader Volker Kauder said at the internal deliberations of the Group Executive Board, according to participants on Monday vehemently for the introduction of a financial transaction tax. "The levy has become a symbol for the participation of the private sector in crisis management," it quoted participants. It should not convey to the public that a gigantic rescue was to be spanned by 750 billion €, but just the financial sector would not otherwise than other areas charged a sales tax.
With the introduction of the tax could not wait until an agreement is reached on the level of the G20 countries, the deputy chairman of the SPD, Joachim Poß had said on Monday. His party expects that the Government is clearly using for a European solution. The Green Party financial expert Gerhard Schick argued that each roll is taxed, but not the trading of financial products. Experts estimated that a tax rate of only 0.01 percent per year would roughly twelve billion € rinse in the German public finances.
Anger at coalition partner
was at the meeting of the Union’s Group Executive Board is also given massive lack of understanding about the fact that the FDP on the subject would not move, reported continued subscribers.
In fact, the Liberals on Monday renewed its rejection: Almost all the partner countries were against the tax, said FDP General Secretary Christian Lindner. "This is purely a Stun Grenade." They must not be a reason to veto items in the Bundestag. Federal Minister Rainer Brüderle (FDP) called the tax an illusion solution. You solve the core problem of the euro and is at best not useful if they would be introduced worldwide. In addition, criticized the FDP, that the tax would also meet ordinary investors like Riester fund savers.
Apart from the transactions tax on stock market transactions are two other instruments in the debate: a bank charge on stock parts and a financial activity tax, which would be levied on profits and managers’ bonuses. The government had initially set at a bank levy. Finance Minister Hartmut Koschyk said the bank tax can easily be combined with the financial activity tax, which had proposed to the International Monetary Fund (IMF).
