Tax, a soft shoe Schüssel

Wolfgang Schuessel the Austrian Chancellor, called for new taxes to finance a larger European Union budget, reviving a fight with low-tax countries like the U.K. over the EU's powers.

Speaking to Euro-MPs in Strasbourg, Schuessel said the idea would not be popular but it was necessary.

`It's absurd that short-term speculation can take place without being taxed,'' Schuessel told the European Parliament ``Europe needs a strong way of financing itself.''

And we all know what that means