Volker Wieland: Financial transaction tax is a step in the wrong direction ("Welt am Sonntag")

The financial transaction tax (FTT) as currently planned by ten EU member states has a negative impact according to Volker Wieland. "Especially in Germany we should create incentives for investing more in stocks and hence in corporate equity and not less," Wieland said in an interview with the weekly newspaper "Welt am Sonntag".

In Wieland's opinion, the FTT will reduce liquidity at the markets. For him, the argument the banks that caused the financial crisis should have to pay more is not convincing. He warned that in the current form the tax is paid by the German savers, not the banks.

Welt am Sonntag: "Finanzexperten fordern Stopp der Aktiensteuer"