Does Willem Buiter propose military action against tax havens?
We have heard quite a number of proposals of how to clamp down on Europan tax havens, but none as far reaching as Willem Buiter, who writes in his blog that Europe’s tax havens should either come clean, or face annexation by neighbours. Britain could take the Channel Island, Spain could take Andorra, and France could occupy Monaco. Buiter hates these tax havens almost more than the German finance minister does. But even if one accept that by encouraging criminal behaviour, they themselves are rogue nations, it would be a criminal act under international law, to annex a sovereign country. This has been tried before. Does the ECB suffer from a status-quo bias Mika Widgren writes in Vox that the Fed’s policy changes seem nimble compared to the ECB’s. Midgren looks voting mechanisms and argues that the ECB’s institutional design accounts for the difference, and concludes that forthcoming ECB reforms are unlikely to alleviate the problem. Munchau on the end of cool Britannia In his FT colum
