This is due to the high reliance of the fiscal policy mix on tax policy measures and tax rate hikes. According to the Global Competitiveness Index 2017–2018, Greece ranks last and second to last as regards the adequacy of the tax system to provide incentives to invest (137th out 137 countries) and to work (136th out of 137 countries).
The United States adopted a specific policy of national treatment for foreign banks operating in this country with the enactment of the International Banking Act of 1978. As we have previously testified, implementing a policy of national treatment can be challenging.