FAST FIVE: G7: Desperately Seeking Relevancy
For all their internal troubles, EU players in the G7 – Germany, France and Italy – cannot afford to antagonize Beijing in economic, trade and investment terms.
They badly need South Korea, Taiwan and Japan.
Wait a minute, Mr Taxman To be fair, the G7 may have rendered a public service to the whole world when their Finance Ministers struck an alleged “historic” deal last Saturday in London on a global, minimal 15% tax on multinational companies (MNCs).
So yes, this is mostly about Big Tech – master experts on fiscal fraud and profiting from tax paradises located even inside Europe, such as Ireland and Luxembourg.
To discuss this openly in Brussels remains a virtual taboo.