It’s Payback Time: The United States and Germany are Debating a Financial Institution Fee

DAAD/AICGS Fellow Dr. Stormy-Annika Mildner examines the differing German and U.S. proposals for an IMF-regulated ‘Financial Crisis Responsibility Fee’ and argues that their implementation is anything but certain. Dr. Mildner writes that the proposals differ with regard to the institutions subjected to the fee, the determinants of the fee (risk, income, and bonuses), the goals of the levy, as well as the appropriate use of the fee revenues, but states that strong transatlantic cooperation in the early stages can result in a more coordinated and effective implementation.

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The views expressed are those of the author(s) alone. They do not necessarily reflect the views of the American Institute for Contemporary German Studies.

Stormy-Annika Mildner

Federation of German Industries

Stormy-Annika Mildner is Sherpa of the Business 20 (B20), the official Engagement Partner of the German G20 Presidency and Head of the External Economic Policy Department at the Federation of German Industries (BDI).