Scoop on bank levy details

In an exclusive interview, EU financial regulation chief Michel Barnier told Reuters on April 15 key details of a proposed levy on banks, the threat of which has depressed bank stocks. Barnier said investment banks rather than less-risky retail lenders should bear the brunt of the tax. He also pledged to force transparency on the speculators blamed for aggravating Greeces borrowing problems. The scoop completed a hat-trick of exclusives. On April 13, Reuters reported that the EU had thrown its weight behind the levy in a draft letter to G20 countries. On April 14, an internal report obtained by Reuters revealed deep divisions between Washington and Brussels over how best to impose the new bank tax. International media, including Londons Daily Telegraph, Frances La Tribune and Les Echos, Spains La Vanguardia and Belgian`s De Tijd, carried the Reuters stories.