EU countries divided on possible new finance tax
AP
EU Economic Commissioner Olli Rehn, from left, Eurogroup president Jean-Claude Juncker, European Central Bank governor Jean-Claude Trichet and Klaus Regling, CEO of the European Financial Stability Facility, attend an informal meeting of the Economic and Financial Affairs Council (ECOFIN) in Wroclaw , Poland on Friday, Sept. 16, 2011. Rescue partners will decide in October on a crucial payout of bailout loan money to bankruptcy-threatened Greece. Juncker and other eurozone finance ministers were discussing Europe's financial crisis at an informal meeting in Wroclaw. (AP Photo/Czarek Sokolowski)
EU Economic Commissioner Olli Rehn, from left, Eurogroup president Jean-Claude Juncker, European Central Bank governor Jean-Claude Trichet and Klaus Regling, CEO of the European Financial Stability Facility, attend an informal meeting of the Economic and Financial Affairs Council (ECOFIN) in Wroclaw , Poland on Friday, Sept. 16, 2011. Rescue partners will decide in October on a crucial payout of bailout loan money to bankruptcy-threatened Greece. Juncker and other eurozone finance ministers were discussing Europe's financial crisis at an informal meeting in Wroclaw. (AP Photo/Czarek Sokolowski)
Eurogroup president Jean-Claude Juncker,right, and German Finance Minister Wolfgang Schaeuble speak after a family photo session during an informal meeting of the Economic and Financial Affairs Council (ECOFIN) in in Wroclaw , Poland on Friday, Sept. 16, 2011. Rescue partners will decide in October on a crucial payout of bailout loan money to bankruptcy-threatened Greece. Juncker and other eurozone finance ministers were discussing Europe's financial crisis at an informal meeting in Wroclaw.(AP Photo/Czarek Sokolowski)
Eurogroup president Jean-Claude Juncker,right, and German Finance Minister Wolfgang Schaeuble speak after a family photo session during an informal meeting of the Economic and Financial Affairs Council (ECOFIN) in in Wroclaw , Poland on Friday, Sept. 16, 2011. Rescue partners will decide in October on a crucial payout of bailout loan money to bankruptcy-threatened Greece. Juncker and other eurozone finance ministers were discussing Europe's financial crisis at an informal meeting in Wroclaw.(AP Photo/Czarek Sokolowski)
WROCLAW, Poland (AP) ? European Union finance ministers are debating a tax on financial transactions that could raise money for the EU as well as make banks share bailout burdens with taxpayers.
But European internal markets Commissioner Michel Barnier said after a meeting Saturday "there's no consensus" on the tax, which would take a tiny fraction from a wide range of financial dealings.
The levy could could be used to support the EU or be a way for banks to repay the costs of the massive government bailouts during the 2007-2009 financial crisis.
France and Germany support the idea but Britain is opposed because London is a major financial center. The U.S. is also opposed.
Many say the tax won't work unless imposed globally.
Associated PressNews Topics: Financial crisis, National taxes, Banking and credit, Government aid, Economy, Business, Financial markets, Government taxation and revenue, Government finance, Government business and finance, Government and politics, National governments, Financial services, Industries, Economic policy, Government policy
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