Germany protesters 'Attac' on financial transaction tax

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Germany protesters 'Attac' on financial transaction tax

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Protesters staged a demonstration outside Frankfurt’s stock exchange, calling for the introduction of a financial transaction tax in Europe.

Supporters of anti-globalisation network Attac laid sandbags outside the building in Germany to symbolise “a dam against speculation” according to one man on a megaphone.

Christoph Bautz, from Campact – a group who work with Attac – said: “The financial crisis over the past few years has shown that the deregulation of financial markets had catastrophic consequences. There must be stronger regulation of financial markets. A first such step is the financial transaction tax which slows down at least the short-term speculation on financial markets.”

German Chancellor Angela Merkel has said she will support a financial transaction tax.

The levy also features as part of a 120 billion euro “growth pact” proposed by French President Francois Hollande.