Euro Zone Starts Talks Over Centralized Budget: WSJ

**PaddyJoe** · 25-09-2012, 03:29 PM

Also reported in Le Monde today. This is going to interesting for our corporation tax regime:
By GABRIELE STEINHAUSER

BRUSSELS—Euro-zone governments have begun discussions about creating a central budget for the currency union aimed at smoothing over some of the region's economic divergences, after Germany indicated support for the idea, European officials say.

..the debate has now shifted to a centralized budget for the euro zone that could be financed by rerouting a slice of national taxes, such as corporate tax or value-added tax, to Brussels, rather than issuing euro bonds, according to European officials.

The idea was included in a paper on the overhaul of the euro zone prepared by European Council President Herman Van Rompuy, which formed the basis of bilateral talks between the council and member states in Brussels last week.

http://online.wsj.com/article/SB1000...LEFTTopStories

**Dr. FIVE** · 25-09-2012, 03:53 PM

Euro-zone governments have begun discussions

Does this include us?

**Dr. FIVE** · 25-09-2012, 03:55 PM

Should I even ask?

**Captain Con O'Sullivan** · 25-09-2012, 03:55 PM

'Smoothing over' means Ireland among others. It used to be called being 'levelled by panzers'.

**disability student** · 25-09-2012, 04:32 PM

Does that require a referendum?? It would pave the way to federal states roadmap.

Central budget..... does it mean that usual December budget would be abolished as finance minister post scrapped leaving the way to Euro super finance minister???

Shades of 'Animal farm' eh??.