A LOOK BEHIND THE NEWS

: Four reasons why the compromise on savings tax should be considered positive even if in practice it introduces co-existence (which EU wants to avoid) of two fiscal systems

There's more than just the Convention. Important developments in the work of the Convention on the Future of Europe have recently monopolised this section and other interesting developments have been sidelined. The compromise on savings taxation, efforts made to boost tardy aspects of the Lisbon process and attempts to define an industrial policy for Europe deserve some reflection. I will begin with the event that has provoked the most commentaries: the fiscal affair.

The public should make...