G20 financial meeting unlikely to reach deal in bank levy (2)

15:35, June 05, 2010      

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As a chair country, South Korea supported the proposal, with South Korean Finance Minister Yoon Jeung-hyun sayig the adoption of the bank levy will discourage banks from moving around too much capital.

"(Bank levy) will thus improve the healthiness of the foreign exchange market and also contribute to the general improvement of the current financial system," Yoon said in an e-mail interview with local media Korea Times.

Due to striking different views among the member countries, the bank levy discussions did not result in any agreement, although it may be continued in summits to be later held in Toronto and in Seoul.

The G20 financial leader meeting, held in Busan for two days, will close its two-day run Saturday with a joint communique.

Source: Xinhua

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(Editor:燕勐)

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