Deutsche Bank again in the middle of the US-EU economic skirmishes

Deutsche Bank Towers – Headquarters in Frankfurt am Main, Germany. Taking a look into the lobby. (Deutsche Bank Audiovisual Service).

The US government is reacting in many ways against the fine in back taxes of €13 billion which the European Commission imposed on Apple. Firstly, Jack Lew, the American Secretary of the Treasury, accused the EU of grabbing tax incomes which belong to the US. On 31st August he said, “What’s not appropriate is for, […]

Brexit mission impossible: Theresa May was so desperate that had to appoint Boris Johnson as Foreign Secretary

Mrs Theresa May, UK’s new Prime Minister, at Justice and Home Affairs Council as Secretary of Home Affairs (European Council Newsroom, 2015)

It’s been only three weeks since the EU referendum and Britain seems to be already changing dramatically. Theresa May has already become the second woman Prime Minister in the UK’s history after Margaret Thatcher and following the resignation of David Cameron last Wednesday. The Former Home Affairs Secretary has started now forming the new government in the […]

South Eurozone urgently needs fairer distribution of taxation burden

Brussels Tax Forum. Discussion between Sharon Bowles, Member of the European Parliament and Chairwoman of the Economic and Monetary Affairs Committee (on the left), and Algirdas Šemeta, member of the European Commission in charge of Taxation and Customs Union, Audit and Anti-Fraud. (EC Audiovisual Services).

Eurostat, the EU statistical service, published last week data on the evolution of tax revenues for the EU member states. A first reading reveals two very interesting developments. Both are connected to the economic crisis which hit Eurozone in 2009-2010. In 2010 tax revenues decreased as a result of the crisis. However, despite the fact […]

European Union: More taxes out of less income

From left to right: Pierre Moscovici, French Minister of Finance,  Christine Lagarde, Managing Director of the IMF, Wolfgang Schauble, German Federal Minister for Finance, Maria Fekter, Austrian Federal Minister for Finance. Eurogroup of 24/3/2013, (Council of the European Union photographic library).

In the fourth year of the ongoing financial and real economy crisis, with government social spending severely cut and bank credit to households and businesses continuously shirking, tax increases remain the only sure thing in life. According to a study by two Eurostat authors, Elisabeth Joossens and Laura Wahrig, taxes in absolute terms surpassed the […]