90 seconds at 9am: Tobin Tax call; Greek debt woes; Massive Toyota recall

Watch on our video page here. Watch on YouTube here. Bernard Hickey details the key news overnight in 90 seconds at 9am in association with BNZ, including news that Sanford MD Eric Barratt has called for a tax on foreign exchange transactions that aren't linked to real trade flows. He says all the speculative trades in the New Zealand dollar are distorting the currency. This 'Tobin Tax' is supported by the British, but without the Americans it won't happen. Have your say here. Meanwhile Greek bond yields spiked overnight after the government there said it would not sell bonds to the Chinese. There are growing concerns that heavy sovereign debt will derail the global recovery. Meanwhile Toyota has announced a massive recall of its top selling cars in the United States because of a problem with accelerator cables. It is shutting factories there. Meanwhile Telecom's XT network went down yesterday and Telecom said it would launch an independent inquiry into XT.