Bank tax distraction: Flaherty

Canadian Finance Minister Jim Flaherty warned his G20 counterparts this week not to become distracted by the proposed international bank tax, the Globe and Mail reported. While in Busan, South Korea, for a two-day summit of finance ministers, Mr. Flaherty said members of the G20 should, instead, be concerned with preventing banks from taking risks such as the ones that triggered the global recession. Finance ministers and central bankers from the G20 remain divided on how best to defend against another banking crisis.

Published: Wednesday, 06/09/2010 12:00 am EDT

Canadian Finance Minister Jim Flaherty warned his G20 counterparts this week not to become distracted by the proposed international bank tax, the Globe and Mail reported. While in Busan, South Korea, for a two-day summit of finance ministers, Mr. Flaherty said members of the G20 should, instead, be concerned with preventing banks from taking risks such as the ones that triggered the global recession. Finance ministers and central bankers from the G20 remain divided on how best to defend against another banking crisis.

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