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Wealth tax to pay for EU bail-outs
Wealthy households would face new taxes on property and other assets under German plans
to prop up the struggling eurozone.
Merkel's possible new wealth tax could see Britons with holiday homes dragged deeper into
eurozone crisis.
Senior advisers to Chancellor Angela Merkel are pushing for better-off households to pay towards
the cost of any future bail-outs for the weaker members of the single currency.
The proposals, from members of Germany's council of economic experts, raise the prospect of taxes
being imposed on property in a country like Spain if its government was forced to seek a bail-out.
The council, known as the "Five Wise Men", is often used to test new policies that are later adopted officially.
The German suggestion is the latest sign that Berlin is intent on imposing even tougher rules on weaker
southern euro members in exchange for using its economic might to support their finances.
As well as inflaming tensions between Germany and its smaller southern partners, the suggestion
could also mean that Britons with holiday homes are dragged deeper into the eurozone crisis.
Cameron and Merkel pledge to make EU more competitive 13 Apr 2013
Around 400,000 Britons live or own homes in the south of Spain, which is suffering a deep recession
that is hampering Madrid's attempts to balance the public finances and stave off a bail-out.
Senior figures in Germany are now arguing that some richer home owners in countries like Spain,
Portugal and Greece have so far avoided paying their fair share to rescue the euro, leaving
Germany paying too much
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