Wolfgang Schäuble, Germany’s finance minister and combinatorial puzzle enthusiast, is what Europeans call a conservative. It appears that something has been lost in the translation, however, because in European, “conservative” means favoring conservatively taxing financial transactions until you can get everyone else to agree on taxing them less conservatively.

“The options, interests and situation of the various participants are so divergent that in a first step we can only have a limited taxation of shares and some derivatives,” Wolfgang Schäuble said as he arrived for a meeting with his counterparts in Brussels….

Mr. Schäuble said Monday that he wanted to reach a deal on the first steps of the tax by the end of the year.

EU Tax Should Start With Derivatives, Shares Says German Finance Minister [WSJ]

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  1. Posted by Tseug | May 5, 2014 at 2:50 PM

    EU Interests: Punish and Tax Eeevil Banksters
    Eevil Banksters' Interest: Avoid being Punished and Taxed.

    Ought to be a piece of cake to reconcile.

    – Israeli / Palestinian Negotiation Team