Germany looks at impose banking levy

Germany\'s coalition government is reportedly planning a banking levy to protect citizens from providing taxes dollars to bailout banks.



Leading conservative politician Volker Kauder says the money will stop banks from relying on state-funded rescues.



The German government dug deep into its treasury coffers to provide a 500 billion euro rescue package to shore up the banking system late in 2008.



Mr Kauder said coalition leaders have agreed that banks cannot in future gamble at taxpayers’ expense.



He said its expected that the levy will raise billions of euros from the financial sector.