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Wealth Tax To Pay For EU Bail- Outs

Wealth Tax To Pay For EU Bail- Outs

Wealthy households would face new taxes on property and other assets under German plans to prop up the struggling eurozone.

By Ambrose Evans-Pritchard | 9:36PM BST | 14 Apr 2013

Senior advisers to Chancellor Angela Merkel are pushing for better-off households to pay towards the cost of any future bail-outs for the weaker members of the single currency.

The proposals, from members of Germany’s council of economic experts, raise the prospect of taxes being imposed on property in a country like Spain if its government was forced to seek a bail-out.

The council, known as the “Five Wise Men”, is often used to test new policies that are later adopted officially.

Read more: http://www.telegraph.co.uk/finance/financialcrisis/9993790/W...

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