Word: europeanizer
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...European Continent, countries with some of the highest tax rates - like Denmark, Germany and Sweden - sit side by side with those collecting some of the lowest, like Luxembourg and Liechtenstein. That's handy for Europeans who want to work in one country while they live, and save, in another. So execs and entrepreneurs can do business in London while settling in Monaco, the city-state famous for sunshine, glamour and zero tax on income or investment gains. Belgium, where some assets are exempt from capital-gains tax, is peppered with wealthy French escaping a tax rate that...
Another big draw is Switzerland's tradition of discretion. Its strict banking privacy laws are a bonus for foreigners who don't want anyone peeking at their accounts. But the European Union, worried about what it sees as rampant tax evasion, is pushing for more transparency in Europe's banking systems. The E.U. Savings Taxation Directive, which came into effect in 2005, demands that member states and their dependencies either automatically exchange information on the accounts kept in their banks by E.U. residents or start imposing a 15% withholding tax on any foreign-sourced interest paid into those accounts. Most...
...state. It's also easier now for foreigners to gain permanent residency, as long as they have at least $1.1 million to invest in a Singapore-based start-up or venture-capital fund, or $3.5 million to stick in a local financial institution. And while the E.U. is forcing European banks to open up to the authorities, Singapore has strengthened its customer confidentiality laws: anyone who reveals private financial information faces a fine of up to $88,000 and three years in prison...
...special two-euro adds to the array of coinage. But while it may quicken the pulse of coin collectors, it is unlikely to cement any collective European character, says Hugo Brady from the London-based Centre for European Reform think-tank. "The E.U. cannot manufacture a European identity through stunts," he says. "It's well intentioned, but I don't think it will resonate with the public at large. The E.U. institutions work best when they are efficient. When they try to get people to love them, the response is bemused befuddlement...
...rights campaigners have reported that the regime has used the rebel attack as a pretext to round up leaders of the political opposition. But Déby is also an important regional ally in the U.S. "war on terror," and his cooperation is essential to the objective of deploying European peacekeeping forces in Darfur. In fact, the rebels forces seeking to oust Déby entered Chad from Sudan, and are widely seen as a proxy force for the Sudanese government, which has openly supported their attempt to oust Déby. The timing of the rebel assault is also...