Europe to go it alone with bank tax after G20 failure - papers

The European Union yesterday pledged to go it alone with a banking levy amid continuing disagreements over agreeing a worldwide plan.

Days after the G20's apparent dumping of the idea as a result of objections from the likes of Canada, Japan and Brazil, the EU said it planned to press ahead with its own measures regardless, reports the Independent. Europe's finance ministers finished talks yesterday on the issue and promised to find a way of taxing banks more amid continuing pressure from voters who remain furious at the way banks behaved in the run up to the financial crisis and now face bruising cut-backs to deal with the continent's debt crisis. Read more A FURTHER £4bn was wiped off BP's market value yesterday...