Finance & Trade

Hannan: Euro Breeds Extremism

February 04, 2015

U.K. Member of the European Parliament Dan Hannan writes that the election of the anti-euro Syriza party in Greece demonstrates that, far from being the "antidote to political extremism" its creators claimed it would be, the euro has become a catalyst for extremist groups across Europe.
Election in Greece Sets up Conflict with EU

January 28, 2015

The Telegraph reports that the victory of the anti-austerity party Syriza in recent elections in Greece could put the government on a collision course with officials in the European institutions, who have stated that they have no plans to forgive any of the country's debt related to its "bailout" in 2010.
German Groups Dig in for Potential Greek Euro Exit

January 28, 2015

The Telegraph has published a set of statements from German institutes and the German Finance Minister Wolfgang Schäuble refusing to consider forgiving Greece's debt from its 2010 bailout and indicating readiness for Greece's potential exit from the euro following its recent election of anti-austerity party Syriza.
Kamall Warns of EU Tax Harmonization

January 28, 2015

Arguing that tax competition among European countries increases business investment across the continent, British Member of the European Parliament Syed Kamall has called for resistance to proposals by EU officials to require the harmonization of tax policy across the economic bloc.
Banks Warn of FTT's Effect on Economic Stability in EU

January 28, 2015

Following moves by the governments of France and Austria to advance a proposal for a financial transaction tax ("FTT") in many countries across the EU, a group of banking organizations published a letter warning that the FTT could have a sizable negative impact on markets across the bloc.
Evans-Pritchard: ECJ Declares "Legal Supremacy" over States

January 21, 2015

Ambrose Evans-Pritchard writes that the recent finding by an EU Court of Justice ("ECJ") Advocate General that the European Central Bank's bond-buying program is lawful, with limits, constitutes "a vaulting assertion of EU primacy" to which member states did not agree in EU treaties.
Observers Warn of "Crisis" in ECJ Bond-Buying Decision

January 21, 2015

The Irish Times reports that some German observers predict a "constitutional crisis" in Germany that could result in the country leaving the euro if the Court of Justice of the EU upholds its Advocate General's opinion that the European Central Bank's bond-buying program, with limitations, is lawful.
British MP Describes EU Threats to U.K. Finance

January 21, 2015

U.K. Member of Parliament ("MP") Sir Bill Cash writes that EU financial laws and the growth of the eurozone are threatening the future of the British financial industry.
Bulgaria Seeks to Join Euro

January 16, 2015

Despite the country's poor credit rating, Finance Minister Vladislav Goranov has announced that Bulgaria has begun talks to join the euro currency.
EU Commission: Luxembourg Tax Deal May Be "State Aid"

January 16, 2015

The European Commission has released a preliminary finding that a tax deal between Luxembourg and Amazon, made while current Commission President Jean-Claude Juncker was the country's Prime Minister, was "state aid" and therefore contrary to EU law.