Global Tax Review - Tackling the Debt Crisis

Global Tax Review - Tackling the Debt Crisis: "As is to be expected, with the Eurozone crisis far from resolved, Greece teetering on the brink of bankruptcy, and the US once again facing a federal deficit in excess of a trillion dollars, fiscal developments in the European Union and the US have tended to dominate the tax headlines in recent weeks.

European leaders hope that their new 'fiscal compact', an outline of which was agreed by 25 of the 27 member states at the last meeting of the European Council on January 31, will be able to contain future crises by subjecting national budgets to an effective 'peer review' by the EU which will seek to ensure that tough new deficit limits are adhered to. It is due to be signed at the next meeting of the European Council in March."

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