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Tax derivatives to fund IMF?


If world leaders want to tame the wilder reaches of credit markets and provide new resources for the International Monetary Fund, they should take up a French think-tank's proposal for a levy on derivatives trading.



This grandchild of the perennial "Tobin tax" idea of taxing speculative financial flows to pay for development comes not from some crypto-Marxist anti-globalisation outfit but from the ultra-respectable Institut Montaigne, a research centre often denounced as "ultra-liberal" by the French left. (...)


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