Tobin tax hits the buffers at G20 talks
G20 leaders failed to agree on a new bank tax at a summit this week in Canada, leaving it up to individual countries to make their own arrangements.
The tax on financial transactions (also referred to as the Tobin Tax) would be separate from a bank levy, which some governments are proposing to impose on banks to insure them against the cost of any future bailouts.
EU finance ministers have been tasked with fleshing out the details of the new banking levy by the end of October, but taxes on financial transactions remain more controversial.
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