French bank becomes the first to introduce Tobin Tax

Bank says tax will raise €100,000 per annum for Millennium Development Goals

France’s co-operative bank, Crédit Coopératif, has become the world’s first to voluntarily start paying a Tobin Tax on currency transactions.
At a conference in Paris on May 3, the bank announced that it was earmarking 0.01% from all interbank currency transactions (spot and out…

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