The Yellow Vests want the franc back and an end to capitulation to EU and German masters – “Get rid of the euro!” | world | News

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The Yellow Vests want the franc back and an end to capitulation to EU and German masters – “Get rid of the euro!” | world | News

Anis Lajnev is the Minister of Finance of “Le Gouv” and has worked for many years as a derivatives dealer for major banks such as Société Générale and Barclays. “Le Gouv” is the political project that emerged from yellow jackets The movement in France is the brainchild of one of the group’s main organizers, Fabrice Grimal. One of the main purposes of “Le Gouv” is to generate new ideas on how to change the political and economic status quo in France, as well as eventually present candidates in the presidential elections.

Mr Lagnve told Express.co.uk that no country could have real sovereignty if it did not have its own currency.

He explained, “I think if you want to have your sovereignty, you definitely have to have your own money – because money is what makes people social.

“Why should I share the same money with someone who is in Estonia or Lithuania or whatever?

“We should have our own money and be sovereign over our own money because if you don’t have sovereignty over your own money, you have a little bit of sovereignty, over the little things that aren’t so important.

Le Gouv’s finance minister said joining the euro has deprived national governments of an essential tool to help them stimulate their economies – the ability to devalue their currencies.

He also claimed that the European Central Bank (ECB) mainly acted to protect the interests of the German economy at the expense of all.

“What is certain is that at the moment the ECB is physically and geographically located in Frankfurt, but also in the mentality of the ECB is German, not European,” he said.

“So everything is being done for the German economy and instead of being able – Italy, Spain or France – to play with its currency and weaken it if we need – we can’t.”

Lagenve accused the EU of facilitating financial dumping by failing to impose a uniform tax system across the bloc, thus allowing some countries to gain an unfair competitive advantage.

Financial dumping refers to a practice whereby countries attract trade and investment by offering lower taxes.

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“You have some arbitrage taking place within the EU – we share the same money but actually we don’t have the same prices first and we don’t have the same taxes,” he explained.

“So the market, the multinationals, the big companies they rule between countries, and then there’s financial dumping.

“You have Ireland that goes along with low tax rates, you have the Netherlands, you have Luxembourg – so really the wolves are with us – these three countries are doing financial dumping and in the end the ones who lose money are France, Italy, Spain and the UK when they were in the EU.”

“Either the EU accepts that we share the same taxes and we can’t have dumping, by following the same rules or anything else, or we have to get out,” he added.

According to data provided by taxfoundation.org, corporate tax rates in France in 2020 were 32.02 per cent, while in Ireland it was only 12.5 per cent.

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In June, G7 leaders signed an agreement committing them to tax global corporations at at least 15 percent, in an effort to create a more equitable playing field.

However, the yellow vest movement wants to tax multinational companies equivalent to the share of sales they make within France.

Le Gouv’s finance minister explained: “For example, if your turnover is 10 percent in France, we look at your global earnings and you pay the equivalent of 10 percent of tax on your global earnings.

“So we don’t have this arbitrage with Ireland – because we can’t trust even the countries within the European region, which are Ireland, Luxembourg and the Netherlands – you now even have Portugal and Malta in the game.”

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