Finance Ministers meeting in Canada there was a move away from a global insurance fund to a global levy. LS did not dispute. CX noted that because US Govt taxes American banks on worldwide basis there was a real risk of double taxation of UK banks e.g. Barclays. This an issue of design of a EFTA_R1_00

Finance Ministers meeting in Canada there was a move away from a global insurance fund to a global levy. LS did not dispute. CX noted that because US Govt taxes American banks on worldwide basis there was a real risk of double taxation of UK banks e.g. Barclays. This an issue of design of a global lev

Finance Ministers meeting in Canada there was a move away from a global insurance fund to a global levy. LS did not dispute. CX noted that because US Govt taxes American banks on worldwide basis there was a real risk of double taxation of UK banks e.g. Barclays. This an issue of design of a global lev

re 17: Cumulative inflows into US funds since the Euro area debt crisis -20% -10% 0% 10% 20% 30% 40% 50% 60% 70% 80% US IG US Equities US Govt bonds US High Yield US MM Jun-2010 Jun-2011 Jun-2012 Jun-2013 Jun-2014 Jun-2015 Source: Deutsche Bank Research, EPFR (Geo) Politics: The Middle