Taking on the Speculators What Would a European Tobin Tax Really Mean?

Angela Merkel and Nicolas Sarkozy are pressing forward with plans to introduce a financial transaction tax in the EU -- if necessary without Britain, home to Europe's largest financial center. Critics believe it will cause an exodus of the industry from the euro zone. But a closer look at the proposal suggests the worst wouldn't necessarily come true.
The German banking capital Frankfurt: Life could soon get more expensive for the financial industry in Europe.

The German banking capital Frankfurt: Life could soon get more expensive for the financial industry in Europe.

Foto: Fredrik Von Erichsen/ dpa