Posted by: Grant | August 6, 2010

UK Guardian – PATHETIC

Setback to hopes of Tobin tax to pay for climate aid
John Vidal in Bonn,
Thursday 5 August 2010 18.41 BST
Money needed to compensate poor countries for effects of climate change is more likely to come from carbon trading than from taxes on banks

" …Economists and politicians have been asked to find ways of raising the money by the UN secretary general, Ban Ki-Moon. But with only three months to go before countries meet again to thrash out a new climate agreement, the Advisory Group on Climate Change Financing – which includes billionaire George Soros, Ethiopian prime minister Meles Zenawi and Larry Summers, President Obama’s chief economics adviser – have reached no conclusions.

Lord Stern, one of the group in Bonn today, said that while many ideas such as a tax on aviation could raise in the region of $10bn to $20bn a year, the group could not identify one source that would be politically or pragmatically realistic for rich or poor countries to accept…. "

Now there’s a list a list of biggest loosers if ever there was one!



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