At their meeting in Paris yesterday, the G20 Finance Ministers did not agree on the introduction of a Financial Transaction Tax at global level. Next week, the European summit will discuss on the possibility of an FTT at European level.

However, as the Independent writes: 'A statement by G20 finance ministers meeting in Paris warned that an EU summit next weekend must agree a long-promised package of new measures to calm markets and prevent the crisis spreading by "contagion"...'