May 24, 2013
The Bundesbank, The Deutscher Aktieninstitute (DAI), and even EU civil servants from the 11 participating countries have all warned against the FTT in its current form. Today saw yet another German voice raised again the tax – this time from the very…
Posted by Open Europe blog team
There’s an old Latin saying, “If you had kept quiet, you would have remained a philosopher.” Reading the Commission’s defence of its proposed EU financial transaction tax (FTT), that phrase immediately sprung to mind. It’s not the strongest piece, to s…
Posted by Open Europe blog team
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clearing houses, commission, eu tax, eurozone, finance, financial regulation, Financial Services, financial transaction tax, FTT, tax, UK-EU relations |
April 30, 2013
The new Italian Prime Minister Enrico Letta announced his first raft of policies in his first speech to the Italian parliament yesterday. The speech was strong on anti-austerity rhetoric but short on details of how his new approach would be funded – il…
Posted by Open Europe blog team
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angela merkel, anti-austerity, austerity, berlusconi, crisis, deficit, enrico letta, eurozone, fiscal discipline, italy, letta agenda, tax |
This is the question which is now holding global financial markets on the edge – could it really happen and what would it mean, we assess the possible scenarios below.Could the Cypriot parliament vote against the levy? According to Reuters, Cypriot go…
Posted by Open Europe blog team
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bail-ins, banking sector, cypriot parliament, Cyprus, depositors, deposits, ECB, eurozone crisis, eurozone. bail-out, germany, imf, levy, russia, tax, troika |
March 18, 2013
Update 11:00 GMT 18/03/2013Sources told Spanish news agency EFE that the Cypriot government and the Troika have agreed to cut the levy on depositors with less than €100,000 to 3% and and increased the levy on those with more than that to 12.5%, but w…
Posted by Open Europe blog team
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bailout, banking sector, crisis, Cyprus, depositors, deposits, eurozone, germany, imf, levy, russia, solidarity, tax |
March 17, 2013
UPDATE 22:00 According to Reuters, German Finance Minister Wolfgang Schäuble claimed today that it was indeed the Cypriot govenrment’s decision to go for smaller depositors – not Germany’s. Speaking to public broadcaster ARD he s…
Posted by Open Europe blog team
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bailout, banking sector, crisis, Cyprus, depositors, deposits, eurozone, levy, russia, solidarity, tax |
This will be another eurozone nail-biter. The deal agreed by eurozone finance minister on Friday to tax Cypriot depositors (and some other conditions) in return for a €10bn bailout still needs to get passed some hurdles. As ever, there’s one hu…
Posted by Open Europe blog team
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bailout, banking sector, Cyprus, depositors, deposits, eurozone crisis, eurozone. bail-out, parliament, tax |
September 27, 2012
We’re still waiting for the full breakdown and figures behind the Spanish budget (which we will analyse and post in due course) but in the meantime here are our initial thoughts:The decision to tap the pension/social security reserve fund for €3bn …
Posted by Open Europe blog team
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austerity, budget, budgetary discipline, eurozone, eurozone crisis, pensions, Spain, Spanish bailout, spending, tax |
March 21, 2012
Amongst all the hustle and bustle of the budget, there’s always the interesting side-story of how much, exactly, UK taxpayers contributed to the EU.Combing through the latest figures released by the OBR today (yes, we’re talking the very fine print, wh…
Posted by Open Europe blog team
March 19, 2012
Has the Treasury been taking some accounting tips from Portugal? One would hope not given Lisbon’s current predicament.But an interesting story has surfaced ahead of the UK government’s budget announcement. Apparently, the UK government is taking ove…
Posted by Open Europe blog team
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