Showing posts with label Andorra. Show all posts
Showing posts with label Andorra. Show all posts

Monday, 21 October 2013

How small is too small?

Yesterday the citizens of San Marino voted on becoming an EU member state. But is that even possible? 

As Brussels braces itself for the inevitable disappointment of a referendum on EU accession in Iceland, when or if that ever takes place, it will come as little comfort that another non-EU European country rejected EU membership yesterday.

The Republic of San Marino, the tiny microstate of 33,000 people situated within Northern Italy, held a referendum yesterday on whether to apply for EU membership. The proposition failed because not enough people turned out to vote. Though a narrow majority of people who voted approved the measure (50.3% versus 49.7%), a referendum needs 32% of eligible voters to vote yes in order for the measure to pass. The 'yes' vote amounted to just 20%.

Unlike an eventual Iceland referendum, the San Marino referendum was not a response any actual offer of EU membership.  The question of whether to start accession negotiations with Brussels was put to voters after a group of citizens collected the required number of signatures. No matter how the referendum turned out it was non-binding. It would be up to the San Marino government whether to actually request accession negotiations, and it would be up to EU member states whether to accept that request.

Wednesday, 5 March 2008

Tax cheat focus continues

Following recent moves by Germany to force Liechtenstein to crack down on tax cheats, the European Union is going a step further, effectively declaring battle today with Liechtenstein, Monaco, Andorra and Switzerland in their ‘war on super-rich tax cheats.’

The EU's council of economics and finance ministers, or Ecofin, is meeting in Brussels today to hammer out a strategy to force Europe’s tax havens into submission. They plan to do so by strengthening the EU’s 2005 savings tax directive, through which the ‘tax haven nations’ have easily been able to find loopholes.

What they’re going after is the increasingly common practice of very wealthy citizens of European countries domiciling themselves in small nations outside the EU with loose tax laws. Germany has recently gone hard after the practice, led by finance minister Peer Steinbruck, who says the tax cheats cost Germany approximately €30 billion in lost revenue.