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Schaeuble says transaction tax could cut volatility

Published Updated

germanLONDON: German Finance Minister Wolfgang Schaeuble said on Monday the rejection of a financial transaction tax was short-sighted and parochial.

"If the financial transaction tax were introduced in all of Europe, which includes the UK, it could help reduce volatility further, not least because it could make leveraged trading less profitable," Schaeuble said in a speech in London.

Copyright Reuters, 2010

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