Et in Formentera ego; or, où sont les flaons d’antan?

We’ve just returned from two weeks on Formentera, the smallest and southernmost of the inhabited illes Balears. We try to spend some time on the island at least once every two or three years; for it is an unspoilt place, a place time has left behind, a place untouched by the imperatives of vulgar economics.

No, that’s bollocks, of course. It is no such thing, nor could it be. Continue reading

The Outermost Regions

In the comments to a recent post, the question arose of the “natural boundaries” of the EU. Apropos of that, let us briefly consider those parts of the EU that are outside of Europe. Sometimes very far outside.

The EU has a formal name for these territories: they are “the Outermost Regions of Europe”. Officially, there are six of them: Guadeloupe, French Guiana, Martinique, Réunion, the Azores, the Canaries and Madeira. Four French overseas possessions, two Spanish and one Portuguese archipelago.

I say “officially”, because there are a number of territories that aren’t covered under this. The Spanish enclaves of Ceuta and Melilla in Africa aren’t, presumably because they’re considered part of metropolitan Spain. The Falkland Islands aren’t, because that would be very upsetting to Argentina. And French Polynesia isn’t, because French Polynesia is very confusing. (This is a territory where everyone has double citizenship — French and French Polynesian — and that’s the least complicated thing about it.)

Then there’s Greenland, which is part of Denmark, except not exactly; the Turks and Caicos Islands, whose citizens are British citizens, and so EU citizens, but who can’t vote in EU elections; the Netherlands Antilles… oh, the list goes on.

But let’s keep it simple, and just look at the bits that are absolutely, positively part of the EU: the seven official “outermost regions”, plus Ceuta and Melilla.
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Bermuda triangle to swallow EU savings tax directive?

Well, not quite the Bermuda triangle – but the Cayman Islands might do just that.

In what is likely going to become a case study regarding the complexities of European multilevel governance, pooled sovereignty, and the complex relations of institutional Europe and the world, it seems a legal challenge brought forth by the government of the Cayman Islands, a British dependency, and thus an EU associated territory, could at least severely delay the EU savings tax directive‘s implementation – after a mere 13 years of negotiations to come up with a common solution to taxing capital gains without tampering too much with the capital’s mobility and important privacy issues.

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