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Automatic exchange of tax data, a not so innocent move

Published in ‘New Europe’ Print and Digital Editions

NE04The next level of international cooperation in taxation is called automatic exchange of information. It came last March as a study and a set of standards published by the Organisation for Economic Cooperation and Development (OECD), and is currently in the process of evaluation before being definitely adopted by Read more…

Piketty or not Piketty?

Published in ‘New Europe’ Print and Digital Editions

PikettyAlright, I’m not going to analyze Piketty. I’m sure you’ve already read several reviews on his theory, and probably even some articles that contradict his policy recommendations—to impose a global tax on capital with punitive rates for the ultra rich. The debate is already so intense that Read more…

The European Central Bank decided to buy bonds—finally

Published in ‘New Europe’ Print and Digital Editions

ECB bondsJust three numbers are enough to get the full picture: 0.25; 0.50; 1.2 . The key intervention rate, or “main refinancing operations of the Eurosystem” as it is officially known, stands at 0.25 percent since last November—indeed very close to zero. Read more…

Democracy vs. Bailout

Published in ‘New Europe’ Print and Digital Editions

BailoutThe eurozone crisis that began in 2009 led several EU economies under the direct control of the troika, a multi-national organ made up of the European Commission, the European Central Bank, and the International Monetary Fund. Meeting the troika’s conditions is imperative in order to receive Read more…

Resolution mechanism, a major step but not the end of the story

Published in ‘New Europe’ Print and Digital Editions

Resolution mechanism“Today’s political agreement on the single resolution mechanism completes our banking union,” declared the European Commission’s President, José Manuel Barroso. So, is the banking union complete? Not quite, but a step has been taken—even though, it took lengthy negotiations among the main Read more…

Merkel and Renzi, or who is fooling whom?

Published in ‘New Europe’ Print and Digital Editions

Renzi MerkelItaly has a new Prime Minister, Mr. Matteo Renzi, the third or fourth after the beginning of the economic crisis. But this time is different; not only because the new PM is the youngest-ever person to occupy this position in Rome, but also because he made a strong departure from Read more…