Wednesday, December 6, 2006

Coming to a city near you

Jay Jardine notes a Financial Times comment on the German constitutional court's dismissal of "a claim from the country’s debt-ridden capital for an emergency injection of federal money."

For far too long, the city has been a subsidy junkie…
…which also happens to be part of London's strategic financial plan!
Too little economic activity and an overgrown state mean that today Berlin has debt of €60bn and tax revenues that cover barely half its €20bn budget.
It's much less likely that a court in Canada would have the same jurisdiction or inclination to undermine politics as a mechanism for inter-govermental tax redistribution.

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