DG-ECFIN of the European Commission has released this interesting report on the structure of tax systems in the member countries: you can download it here.
Author: Philip Lane
Due to the high level of interest, we have reached room capacity for this conference. If you would like to join the wait list, please email
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John Murray Brown reviews both sides of the debate, with some interesting scenarios for the scale of re-capitalisation that may be required: you can read it here.
From today’s Eurointelligence
There is some movement in the debate on bank resolution policies in Germany. FT Deutschland has the details, according to which the government is currently favouring a model proposed by investment bank Lazard. According to one variant of this model, the government takes the toxic assets from the banks, in return for government debt obligtation, which carry ultra-low interest rates, and which the banks promise to keep on their books for a long time. The idea is that such a construction prevents spillovers into the general bond market. Another construction is a bad bank, which holds the bad assets, and which issues government-guranteed debt obligations to the good bank.