France to impose tax on financial transactions
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Sarkozy hopes measure will shrink nation's budget deficit, spur growth
PARIS - France plans to unilaterally impose a 0.1 percent tax on financial transactions starting in August, President Nicolas Sarkozy said, brushing aside opposition from the nation's banks.
"What we want to do is provoke a shock, to set an example," Sarkozy said on Sunday in Paris. "There's no reason why deregulated finance, which brought us to the current situation, can't participate in the restoration of our accounts."
