Emissions trading to fund Europe govt bailouts?

New reports tonight suggest taxes imposed on NZ households in the name of climate change could be raided to bail out debt-ridden foreign governments and banks.

Australia and New Zealand have announced plans to synchronise their emissions trading schemes. Elsewhere, Australia has confirmed that synchronisation is likely to hook the Anzacs into the much ridiculed European ETS scheme.

Meanwhile in Europe merchant bankers are suggesting discussions are underway to use the ETS “cash cow” as a piggy bank for bureaucrats.