Cameron and Merkel to clash over Tobin Tax

Volker Kauder, leader of Merkel's party CDU, yesterday accused Britain of "only defending its own interests" instead of those of the EU by fighting the tax. Merkel has repeatedly pushed for the Tobin Tax and has pledged to implement it in the Eurozone even if Britain refuses to cooperate, the Financial Times reports. Cameron has promised to resist the tax on Britain's financial services sector, placing him and Merkel at loggerheads before their scheduled meeting to discuss financial stability this week. The tax would fall most heavily on London as it is Europe's biggest financial c...