Business News
Merkel "personally" supports Sarkozy on transaction tax
Jan 9, 2012, 13:21 GMT
Berlin - German Chancellor Angela Merkel said Monday she 'personally' supports French President Nicolas Sarkozy in his urging for a tax on financial transactions - but faces resistance in her own government.
Merkel said finance ministers would be asked to draft proposals on the tax by March.
Merkel said she personally favoured its introduction if need be in the 17 eurozone nations only if there was no agreement among all 27 European Union nations. But she added there had been no agreement in her cabinet yet on this view.
'We will continue to fight for it,' the chancellor said.
She spoke after a lunchtime meeting with Sarkozy at her office in Berlin. Sarkozy last week said Paris would act alone if necessary to impose the tax. The Free Democrats, the junior party in Merkel's coalition, object to the tax.
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