european finance ministers are in alaram:

the continuing downfall of the capitalisation of the stockexchanges everywhere will cause many finance ministers to revise the already sanctioned budgets this year. already now it is to register

a)
a sensible minus of capital gain taxes
b)
asset taxes
c)
withhold taxes
d)
stockexchanges transactions stamps/duties

the italian finance minister was the first to admit (a day before easter!!!) to foresee heavy problems for europe. he said in italy alone this year the minus of the planned taxes could be as 40 billion usdollars. the actual government couldn't care less because after the 13th may the new governmnet will take over. but the most likely new government (under right wing berlusconi) in this election campaign promised loudly sensible taxreductions and increase of state pensions. this promise will remain. from the canditates no word about this fact. hm!

the now acting finance minister did however not explain from where also a new government could take the missing funds. (one can imagine, new public debts, increase of indirect taxes etc., nothing new)

difficult times arriving.

gigi