Luxembourg's finance minister called for a new tax to fund the European Union's budget, saying in Monday's Le Figaro newspaper he favoured a levy on financial transactions or a carbon tax.
Luxembourg's finance minister called for a new tax to fund the European Union's budget, saying in Monday's Le Figaro newspaper he favoured a levy on financial transactions or a carbon tax.
"Our citizens have a direct link with their national budget but this is not at all the case when it comes to the European Union budget," the minister, Luc Frieden, wrote in a commentary for the French daily.
"It would therefore make sense to rethink the financing of the European budget through a European tax imposed on certain services or products that would go directly into the European budget," he said.
"A European environmental tax, such as a carbon tax, or a tax on certain financial transactions would be particularly suitable," he added.
The Eurogroup of eurozone finance ministers met in Brussels on Monday, with its chairman calling for the group to be given greater powers for surveillance of national economies in the wake of the economic crisis.
Source:news.ph.msn.com/
Showing posts with label Bank Monaco. Show all posts
Showing posts with label Bank Monaco. Show all posts
Monday, January 18, 2010
Commerzbank to sell Dresdner Bank Monaco
Commerzbank has announced that it has agreed to sell Dresdner Bank Monaco S.A.M. to Bank Audi sal – Audi Saradar Group.
The value of the deal is undisclosed, and the sale itself is subject to the necessary approvals of the relevant regulatory authorities.
Dresdner Bank Monaco S.A.M. is a subsidiary of Dresdner Bank Luxembourg S.A and focuses upon private wealth management in northern Italy, southern France and Monaco itself.
At the end of 2008 its assets under management were €233m, and it employed 18 staff.
Bank Audi sal is a leading Lebanese financial institution and already has a presence in France, and Switzerland.
The acquisition of Dresdner Bank Monaco S.A.M. is in line with Bank Audi sal’s strategic objective of developing a strong private banking presence in Europe.
Commerzbank has made a number of sales in recent months, last year selling off the Kleinwort Benson business to financial holding company RHJ International and the Global Agency Securities Lending business of Dresdner Bank to Deutsche Bank.
Source:bankingtimes.co.uk/
The value of the deal is undisclosed, and the sale itself is subject to the necessary approvals of the relevant regulatory authorities.
Dresdner Bank Monaco S.A.M. is a subsidiary of Dresdner Bank Luxembourg S.A and focuses upon private wealth management in northern Italy, southern France and Monaco itself.
At the end of 2008 its assets under management were €233m, and it employed 18 staff.
Bank Audi sal is a leading Lebanese financial institution and already has a presence in France, and Switzerland.
The acquisition of Dresdner Bank Monaco S.A.M. is in line with Bank Audi sal’s strategic objective of developing a strong private banking presence in Europe.
Commerzbank has made a number of sales in recent months, last year selling off the Kleinwort Benson business to financial holding company RHJ International and the Global Agency Securities Lending business of Dresdner Bank to Deutsche Bank.
Source:bankingtimes.co.uk/
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