Switzerland Says Yes

Swiss voters said yes in a referendum this weekend to extending an agreement with the EU on the free movement of workers to include the EU-10 ‘new accession’ members (and here). Well sort-of. They voted by 56% to 44% to gradually ease restrictions on the working rights of citizens from these countries so that by 2011 (the same year as France and Germany) they will enjoy equality of access with those from other EU countries. (The only EU states to have opened their labour markets to the new members to date are the UK, Sweden and Ireland).
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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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