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British Prime Minister Gordon Brown Saturday resurrected the idea of the international community imposing a global tax on banks as a repayment for the billions of pounds of taxpayers' money they have received from governments.
The idea is said to mimic the so-called "Tobin tax" - a 0.1 percent tax on all international currency transactions proposed by the economist James Tobin in the 1970s in order to fund global development.
In an address to the Group of 20 (G20) finance ministers meeting in St Andrews, Scotland, Brown said: "There have been proposals for an insurance fee to reflect systemic risk or a resolution fund or contingent capital arrangements or a global transactions levy.”
"Britain will not move unless others move with us."
Finance Minister Pranab Mukherjee is among those attending the meeting.
When originally proposed, the Tobin Tax was strongly opposed by the US and Britain.
Last updated on Nov 7th, 2009 at 20:48 pm IST--IANS
Hooded and armed men Monday kidnapped Carlos Roca, news chief of the Televisa de Zulia television channel in the northeastern Venezuelan state of Zulia, said authorities in Maracaibo, the state capital.
Around 200 employees at a gold mine in the northeastern Dominican town of Cotui suffered food poisoning, according to an executive of Canadian-owned Barrick Gold.
About 120 million people lack access to potable water and basic health services in Latin America and the Caribbean, according to figures released here at the second Latin American Sanitation Conference.
The FBI will take part in the investigation into three people linked to the US Consulate being killed last weekend in this border city near El Paso, Texas, Mexican authorities said.
Asserting that India would not scale down in its operations in Afghanistan after the recent attacks on Indians there, Foreign Secretary Nirupama Rao has asked the international community to stay the course in the war torn nation.
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