EU agrees climate pledge that may boost Copenhagen

EU leaders agree on paying $10 bn to help developing countries in adjusting to climate change policies over the next 3 years. The EU members have promised to reduce their greenhouse gas emission up to 20% and are willing to reduce upto 30% if other nations are willing to do so. Financial matters are being discussed as well in the meeting. EU leaders is suggesting the IMF to implement a global tax on financial transactions so the banks do not take excessive risks that could lead to another financial crisis called a "Tobin tax". More EU countries like France and the UK are pushing it than the U.S.