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These days between Brussels and Berlin a new proposal made by the German finance minister, Wolfgang Schauble, is taking shape, that is a “euro-tax” that would aim to create a kind of mutual fund in the euro zone to deal with any emergency within the countries of the EU, as in the case of Greece. “Schaeuble is ready to cede part of the tax revenue to end it in a separate budget of the monetary union,” writes Spiegel Online first announcing the intentions of the Minister of the Treasury of Berlin.

But there are others who expressed skepticism, starting from Merkel that, as pointed out by the German weekly, seems to be furious at the decision made behind her back by the Minister of the Treasury. Even if the plan is complicated and it is still an idea, Schaeuble trusts the support of many, starting from the French President Francois Hollande.

According to the proposal, the countries called to the contribution could be the 19 of the Eurozone or the 28 members of the European Union, which could experience a new reality: to donate part of the VAT and and of the personal income tax, or to establish a new tax. As mentioned, this idea is still being developed, for which a task force has been created, made of nine members listed by the Commission of the European Parliament and by the European Council. Mario Monti will lead the team – he will accompany the staff during these next months to decide which plan to adopt.

The countries accepting a supranational tax, would give a real shock to the setting of the European Union, shifting the economic axis from the basin of the few countries to an independent institution. Although the news released by the German weekly has already divided public opinion and that of European leaders, the European Commission thinks that the Euro-tax is an idea “worth exploring.”

Translation provided by Maria Rosaria Mastropaolo

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