Andreas Dombret, a member of the Bundesbank's executive board, voiced concerns on Tuesday over the introduction of a European financial transaction tax on banks.

At a Symposium on Perspectives on the European Distressed and Credit Markets in London, Dombret said: "[As] much as I get the moral arguments for such a tax, setting the wrong incentives often means the harm caused in practice outweighs the intended benefits – particularly when measures are not introduced internationally, which