Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-09-14-Speech-3-051-000"
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"en.20110914.3.3-051-000"2
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"Mr President, it has already been highlighted here that there are EUR 200 billion in Switzerland that were spirited out of Greece. There are trillions more from various Member States – including your country and mine, Dr Barroso: Portugal – that have disappeared from companies, banks and economies, to many other tax havens, evading or defrauding the national authorities.
Moreover, there is much more capital which, benefiting from the fun and games of tax rivalry within the European Union itself, has taken refuge in the Netherlands, Luxembourg, Belgium, the City of London or Ireland, eschewing investment in the countries which generated it.
How can the economic governance proposed by the Commission and the Council have any credibility or effect when they have done nothing to control tax havens and recover the funds lodged there, and when they are doing nothing to achieve tax harmonisation within the euro area?"@en1
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