The International Monetary Fund (IMF) conducted a study to determine which OECD countries have the most growth-friendly tax regimes, labour markets and social insurance systems. IMF economists then calculated what would happen if euro-area member states closed half of the gap to the leaders.
As regards “sociological proximity”, the new French President is a former banker. Will the ECB will be more vigilant with regard to him? One should avoid accusations. Georges Pompidou and Henri Emmanuelli also worked for Rothschild! The French political authorities were in the vanguard of the banking union: it is an achievement and it was not self-evident in France.