Merkel Supports German Financial Tax as EU Loans Plan Goes to Vote

German Chancellor Angela Merkel said Tuesday in Berlin that Germany would support a tax on the financial market sector to contribute to the costs of the euro-region’s $1 trillion bailout plan. “We agree that the financial sector must share in the cost of the crisis,” said Birgit Homburger, floor leader of Merkel’s Free Democratic coalition partner. “Those who speculate at the taxpayer’s expense must participate.” – Bloomberg