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More details on the global financial tax to help cut extreme poverty.

The money raise would go to pay for the UN Millennium Development Goals, ah those MDG’s.

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Europe leaders urge bank tax to battle poverty

European leaders stepped up demands for a global financial tax on Monday as they faced mounting calls for money to pay for the Millennium Goals battle to cut extreme poverty.

President Nicolas Sarkozy of France and Spain’s Prime Minister Jose Luis Zapatero said they would press for the new tax at international summits.

The world’s wealthy countries face growing pressure at the three day Millennium Development Goals (MDG) summit to contribute more to the drive to eradicate poverty and improve child and maternal health.

African nations in particular are calling for more action and the West can expect little sympathy when the likes of Iran’s President Mahmoud Ahmadinejad speak on Tuesday.

UN Secretary General Ban Ki-moon said the struggling effort to reach eight key development goals by 2015 could still be met if world leaders provide the necessary money and political will.

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