After decades of optimism we should start imagining Europe without the EU. If we do not fix that project and make it successful, it may turn out to be mortal. The EU does not need a major structural overhaul or another treaty change. It needs a change of attitudes.
The principle of free movement of capital, goods, people and services comprises the main pillar of the European Economic Area. Excessive regulation, however, prevents EU Member States from reaching its full potential. Such untapped potential is particularly evident in the free movement of financial services.
Although many agree that tax competition is a healthy and natural economic process that drives economies, the EC now sees tax harmonization as an essential factor for the functioning of the single market. Together with the CCCTB initiative, the ATA Directive could be seen as a first step toward this harmonisation.
We have the pleasure the present you the second of the series of our policy papers that we will be publishing in the near future. The publication discusses the issue of Gold-plating – the process where an EU directive is given additional powers when being transposed into the national laws of member states. Enjoy your reading!