Here is a new and big campaign against tax havens. But tax exile will last as long as confiscatory and arbitrary taxes will last. It is the case in France. Should not a tax amnesty be proposed? The IREF is making the proposal that all sorting out that has begun this year should reach an agreement within a short delay and be adjusted at a standard cost of 50% of the total incomes (interests, dividends, add-value)made on these account since 2006. Those who managed their assets through companies or whose accounts were subject to donations or inheritance should not be penalized. Such a measure would yield about a billion euros.
Companies & Regulation
Bumpy springtime for the ECB: no recovery, another major blunder and more regulation. Times ahead are becoming increasingly hard as more EU countries are in trouble, new regulations are being introduced and banking and sovereign borrowing are difficult.
“She did not just lead our country; she saved our country” said British Conservative Prime Minister David Cameron as a tribute Margaret Thatcher who died at 87, on April 8th, 2013. Tony Blair, former British Labor Prime Minister, declared: “Very few leaders get to change not only the political landscape of their country but of the world. Margaret was such a leader. And some of the changes she made in Britain were… retained by the 1997 Labor government, and came to be implemented by governments around the world.” Her legacy is more than ever alive and is the proof that politics with good ideas can change countries to the best. Let’s have a quick overview of her doings.
WP2013-01. Executive Summary This working paper explores the notion of personal responsibility by considering people’s attitude towards redistribution. In particular, the authors run a controlled experiment by offering a representative…
This is an unexpected outcome of the Cypriot “bail out – bail in”. The fact that the Cypriot Government is now able to control money transfers and cash withdrawals is a threat for the European market. Can it still be called a free market if restrictions are applied on the ability to move money? Isn’t it also a denial of property rights?
The Cypriot crisis has enthroned Germany has the leading European country. European economics are likely to be German driven from now on. Thus, fiscal profligacy or faulty business models are considered to have caused the recent crisis and the German cure to this is clear: austerity and structural reforms must be enforced. Cyprus was first on the list.
6 lines against 20! In Germany, the gross salary is taxed by only few contributions (tax on salaries, solidarity, pension fee, Church). It was understood that flexibility is much more…
This 3rd newsletter, written by Kevin Dowd and Gordon Kerr with Enrico Colombatto, is pointing out the auterity consensus tested as the Irish liquidation of Irish Bank Resolution Company, anayzing also further Collapses, Poor Results and Regulatory Arbitrage in banking.
Gilles Hennesy, an LVMH director who is executive vice-president of commercial at Moët Hennesy, and Christophe Navarre, chief executive of Moët Hennesy, are both moving to London. Bernard Charlès, chief executive of Dassault Systèmes, declared that some Dassault’s top managers already from France to other countries for fiscal reasons. The press is talking about fiscal exodus, yet it is not accurate: it would be better to talk about fiscal competition.
The European Union is about to bail out Cyprus but no details on how it could be done are released yet. Joerg Asmussen, ECB board member, announced that “the troika of European Union, International Monetary Fund and the European Central Bank would send a mission of experts to Cyprus on Tuesday for a technical analysis of the country’s financing needs and to get a better understanding of the new Cypriot government.” Owing to the importance of the event for the Euro zone, it is worth reminding what Enrico Colombatto, IREF scientific director, wrote on Cyprus’ bailout.
