Monday 20 November 2017

Thomas Molloy: Merkel's rescue plan a taxing one for Kenny

SOMETHING strange happened in the German parliament yesterday; Chancellor Angela Merkel came up with a fresh and interesting approach to helping countries that have been engulfed by the debt crisis.

Addressing the Bundestag just hours before meeting Enda Kenny and other EU leaders in Brussels, Mrs Merkel outlined her wish to create a solidarity fund that would be "limited in time and project-based" to help Ireland and the other bailout nations.

Mrs Merkel wants the fund to be paid for by a proposed tax on share transactions, which is going ahead in most big eurozone countries, but not here in Ireland because Mr Kenny fears it could damage our financial services sector.

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