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I think it's central banking for the EU, therefore very much like the Fed Reserve.  But think of all fiscal issues as being at the "state" level, in US terms.  The attempt to harmonize is done through the 3% guideline on the budget deficit.  To me it seems like taking the occassional issues neighboring US states have between different alcohol, sales, cigarette taxes, corporate state taxes,,,,,and multiplying those issues by a factor of some big number like 1000.
by wchurchill on Thu Feb 1st, 2007 at 07:54:01 PM EST
[ Parent ]
One thing is that there's a EU policy that VAT rates should converge. Each time a EU country wants to change its VAT for some sector, the EU has the final word on it.

I've never understood the rationale for this "VAT convergence" policy and why the EU is involved.

Not even someone mentionning an advantage to this scheme, seems pure theocracy EU-style.

AFAIK in the USA states have their own consumer tax and set it at whatever level they want.

by Laurent GUERBY on Sun Feb 4th, 2007 at 04:58:59 PM EST
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