Once countries with costly governments have created a Berlin Wall around their high-tax jurisdictions, they will be free to collude on other taxes beyond the corporate income tax. Personal income taxes, wealth taxes, death taxes… there is no end to the imagination of a government that does not have to worry about tax competition.

At stake is nothing less than both partners’ continued cooperation and Switzerland’s membership of the EU common market.

While French President Emmanuel Macron proposed a vision for a more federalized European Union in assuming the presidency of the European Union, his government has also made it clear that does not apply to arms exports.