The objectives of the Commission are well known. We have identified the amendments that need to be made to the EU Savings Directive in order to strengthen it and close its loopholes, and we want to achieve equivalent amendments to the EU-Swiss savings agreement.
Once we can commence the negotiations, we will engage with ambition and openness. But we will also have our red lines. The EU is not prepared to back-track on good governance, nor will we accept bank secrecy that can support tax evasion. I remain convinced that automatic exchange of information is the best means of ensuring effective taxation of savings income, and we will push for at least equivalent measures from our international partners. Our negotiations with Switzerland will aim at securing the best deal possible, consistent with these principles.
The contrast is with the UK, which is, of course, currently seeking an agreement with the Switzerland that specifically allows tax evasion to continue and which denies the need for automatic information exchange.
Semeta is, as one says, "all hat, no cattle". He does not have a mandate to negotiate with Switzerland, and he is not getting one any time soon.
As long as he (and the rest of the Commission) continue to link automatic exchange of information with the technical amendments to the EUSTD means that Luxembourg (and Austria) will continue to veto any progress, and deny Semeta his precious mandate.
Semeta will be out of a job within 12 months. He has been an embarrassment to his own country, and Lithuania will be keen to have hime replace before they take over the presidency in H2 2013.
So that's why the EP voted overwhelmingly for automatic if nromation exchange is it?
Richard, I know it is difficult to believe, but the European Parliament has even fewer powers than the Commission when it comes to tax-related issues. The European Parliament can pass as many motions as it wants (and it does, on the FTT, the CCTB, etc.) they will not be worth the paper they are printed on.
Tax is a sovereign national matter, and any attempt by the EU to legislate in this area requires unanimous approval by all member states at ECOFIN. All other EU bodies are simply irrelevant in this area.
Democracy isn't your thing, is it?
Richard – was it you, or Shaxson, or both, who told us a little while ago that the German Senate was going to kill Germany's own treaty with Switzerland?
Anyway, looks like the opposition there is softening like ice cream in the sun. See http://bit.ly/Jcnlqr and http://bit.ly/J8W7TS) The Federal government has promised some states a big bag of cash, and that seems to have changed quite a few minds. Even a leftie socialist has a price!
You just love corruption, don't you?
Richard, this is not corruption. This is standard, middle-of-the-fairway federal congressional politics in Germany, incidentally Western Europe's largest democracy and arch-dominant economy. The Senate is a giant trading room, whose main function is to divide the fiscal pie between the Federal government and the States, as well as among the latter.
If you don't like Germany's Federal political institutions, feel free to propose an alternative. Be aware that it has been tried before, and it is a slippery slope.
You are definitely committing the error of shooting the messenger. Everything that Darren wrote is factually entirely accurate. In fact, his first post is lifted almost verbatim from your good friend, and TJN cheerleader Mark Morris. Should we conclude that Mark too is "corrupt" and "a promoter of tax crimes"?
The idea that the European Parliament carries any meaningful democratic legitimacy is simply laughable. As a British citizen, I accept the authority of our Parliament, end of it. A majority of us want out of Europe NOW, to put this nightmare behind us.
I am certain that the good people of Germany, Austria, Ireland, Luxembourg and others, feel the same way about their own legislatures. They will make sure that their democratically elected governments will make sure make use of their veto rights at ECOFIN to ensure that this agenda never sees the light of day.
Ah, I see. Now that Morris' analysis no longer serves your and your TJN friend's agenda, you are happy to throw him under a bus. I hope he'll take notice of the type of friends you are.
I am not sure what paradigm or what increasing economic crisis you are referring to. Just see: Germany, Austria, Luxembourg, Switzerland and many others (Poland!) are not in crisis. In fact, some have the lowest unemployment and public deficits in a generation. The citizens of these countries are happy to tell the EU to get roasted.
Only countries with bad governments are in crisis, and eventually these governments are replaced. Even if their head is named Sarkozy.