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European leaders met this week at a summit intended to decide upon aggressive policies to tackle tax evasion, but the results were far from conclusive, not least because of continuing opposition from Austria and Luxembourg on introducing a yearly automatic exchange of bank account information between member states. Mediapart’s Brussels correspondent Ludovic Lamant reports on the outcome of Wednesday’s talks, and examines whether the European Union is truly capable of acting as the umbrella organisation to halt a tax drain that is estimated to cost its members a combined 1 trillion euros per year.
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