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At the bottom of all this is the threat of a capital flight away from the western economies. How realistic is the threat, I don't know. Our governments have been fighting people who get residency in tax havens for a long time. Now it seems they're going to have to start fighting the "national champions'" desire to do the same.

A society committed to the notion that government is always bad will have bad government. And it doesn't have to be that way. — Paul Krugman
by Carrie (migeru at eurotrib dot com) on Fri Mar 24th, 2006 at 09:25:21 AM EST
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How realistic is the threat, I don't know.


Quite real as long sovereign entities continue to debase themselves by considering private entities as their equals or their superiors.
by Francois in Paris on Fri Mar 24th, 2006 at 02:05:52 PM EST
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