German Failure To Form Coalition A Blow To Europe, Tax Policy | 23.11.2017

Our partner Dr. Oliver von Schweinitz was quoted in Bloomberg’s BNA International Tax Monitor on German Chancellor Angela Merkel’s failure to form a governing coalition and the consequences for Germany as the leading economic power in Europe (Failure of Jamaica Coalition talks).

Talks dissolved Nov. 20 after the pro-business Free-Democrats withdrew – Merkel is left with only two options: seek parliamentary approval to form a minority government or allow the German president to declare snap elections. Neither are great options, attorneys said.

“Either way, we won’t have a strong government,” Oliver von Schweinitz, a partner with GGV law firm in Hamburg, told Bloomberg Tax Nov. 20. “Without Berlin leading by example, proposals to harmonize fiscal policy in Europe are bound to take hits,” he added.

“This is a blow to Europe,” von Schweinitz said. “Only 20 years ago, people were talking about Germany as the sick man of Europe. Now we’re strong, but I don’t think any country in the current competitive state of the world has the possibility to just let time pass for two years.”

Snapshot:

  • Germany positioned to implement sweeping tax reforms
  • Lame-duck session that could last as long as a year

 

To read the complete article see attached PDF.

 

Dr. Oliver von Schweinitz  berät Unternehmer und Unternehmen an den Standorten Hamburg und Frankfurt im nationalen und internationalen Steuerrecht sowie im Wirtschafts- und Immobilienrecht.

Spezialgebiete Bankaufsichtsrecht (Trennbankengesetzgebung, Dodd-Frank-Act), Besteuerung von offenen und geschlossenen Fonds, Immobilien- und Immobiliensteuerrecht, Private Equity, Recht des Informationsaustausches (QI, FATCA, CRS), Wirtschafts- und Steuerrecht – auch im Kontext mit US-Recht.

Büro Hamburg, Tel. +49 40 369633-56, schweinitz@gg-v.de