Close harmony
IN FACT, you'll find Mr Leach's book is good reading. I like his entry for Luxem- bourg: 'The smallest and richest state of the European Union and one of the founders of the Community, the Grand Duchy of Luxembourg derives its prosperity partly from its status as a tax haven and partly because many of the EU's institutions are located there.' The Club Med has an entry, and so does the Crocodile Club, named after a Strasbourg restaurant favoured by federalists — it's a great place for MEPs to get through their pay and allowances. Fiscal dumping and social dumping apparently mean competition, while harmonisation means stamping it out. Did you notice this month's Ecofin? Yes, yes, it's a meeting of EU finance ministers, Gordon Brown in the chair because Britain holds the presi- dency — president of what? I'm glad you asked me that, I'll have to look it up well, anyway, he announced a great new ini- tiative on harmonising taxes. In his budget speech, he boasted of Britain's low taxes on business. Someone will harmonise those. It never stops. Remember this, boys: you may not be interested in Eurospeak, but that won't stop the Eurospeakers being interest- ed in you.
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