Tax commissioner lets rip against Austria and Luxembourg

EU Finance Ministers discussed in Brussels on the 16 May 2012 an update of the EU's savings tax agreements with European countries outside the EU (Switzerland, Liechtenstein, Andorra, Monaco and San Marino). The aim was to ensure a more efficient taxation of EU citizens' savings in these countries. For years the ECOFIN Council had been working for an adoption of a negotiating mandate for the European Commission, but this was not possible since Austria and Luxembourg blocked an agreement.

EUObserver reported: 'Completely unjustifiable ... grossly unfair ... a mystery' - the European Commission and the Danish EU presidency gave Austria and Luxembourg a tongue-lashing for protecting tax evaders.