A big debate going into the G8 and G20 summits has been whether or not countries places should adopt a bank tax.

The purpose of a bank tax would be to build up a large reserve of money so that if a major bank failed the taxpayer wouldn't be on the hook for hundreds of billions of dollars.

For its part, Canada opposes a bank tax. However, Britain, France and Germany all have plans to implement some kind of bank levy.

In a deeply-connected world of international finance, is it possible for some countries to enact a tax and some not?

The short answer...

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