Ratings agency Moody's Investors Service stripped France of its prized triple-A credit rating on Tuesday, triggering worries the move could heighten the risk of a downgrade for other top-rated nations, including the United States and the single currency bloc's largest economy Germany.
High tax levels in France have recently made the headlines, whether it be regarding the new 75 percent income tax, or over celebrities leaving the country on a quest for tax havens. But France's main tax issue may lie elsewhere, Fanny Combourieu, lawyer at SJ Berwin, a law firm specializing in tax law, told CNBC.
Almost four out of 10 Liberal Democrat voters support leaving the EU, according to a new poll which shows that hardline euroscepticism has taken hold in Britain's most pro-European party.
Vladimir Putin reacted angrily to the German chancellor Angela Merkel's questioning of the two-year jail sentence for the anti-Kremlin punk band Pussy Riot on Friday, telling her that a member the group had once committed an anti-Semitic act.
French government ministers have reacted angrily to the front cover of the latest issue of the Economist magazine's latest front cover - which features a bundle of French baguettes with a lighted fuse, under the headline "The time-bomb at the heart of Europe".
Two months after Bernard Arnault's bid for Belgian citizenship shocked France, another major cultural figure has crossed the border in a quest for lower taxes.
George Osborne has joined forces with the German finance minister, Wolfgang Schäuble, to announce an international crackdown on tax avoidance by big multinationals, such as eBay and Amazon.
The president of the European council has intervened in the Scottish independence debate, claiming that nothing will be gained from breaking up the UK. Herman Van Rompuy, who would chair meetings to discuss if an independent Scotland could join the EU, said the move for separatism was a thing of the past.