February 5, 2018 / 2:21 PM / 9 months ago

German would-be coalition partners want to close property tax loophole - paper

BERLIN (Reuters) - Germany’s would-be coalition partners want to end misuse of a property tax loophole known as share deals and strengthen the financial sector after Brexit by making it easier for banks to hire and fire top managers, a negotiation document showed.

The policy paper, agreed on Monday by negotiators from Chancellor Angela Merkel’s conservatives and the centre-left Social Democrats, must still be approved by party leaders.

Both political blocs also agreed to develop a comprehensive strategy for dealing with blockchain technology. They also want to set up criteria with EU partners to check the relevance of hedge funds and shadow banks for the stability of the financial sector, according to the negotiation document seen by Reuters.

Reporting by Markus Wacket; Writing by Michael Nienaber; Editing by Joseph Nasr

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