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Europe Daily Bulletin No. 7933

28 March 2001
Contents Publication in full By article 25 / 72
GENERAL NEWS / (eu) eu/financial market
European banks fear new debate over Tobin Tax - Swedish Presidency (and future Belgian Presidency) will examine issue

Brussels, 27/03/2001 (Agence Europe) - The Banking Federation of the European Union (FBE) published a position paper on Tuesday in which it comes out against the Tobin Tax proposal, which it described as a kind of "Loch Ness monster" and is concerned that the issue may be brought up again following recent "volatility in international financial markets". The idea of introducing a 1% tax on international speculation was first mooted in 1978 by the winner of the Nobel Peace Prize, the US...

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