Prepare for the EU’s ‘Hamilton moment’
The EU may boast a common currency like any other state (even if nearly a third of its 27 members do not use it). It may also have, through its regulatory jurisdiction over banks and financial services, a vast say in the running of the financial system throughout the bloc: powers at least comparable to those of a federal government such as that in Canada or Australia. But there is one thing the EU has not yet managed to get: a unified tax system. Any attempt seriously to impinge on national tax laws still requires unanimity among member states. This irks Euro-federalists. One reason is that it draws the centre
