By George Hay and Dominic Elliott. The authors are Reuters Breakingviews columnists. The opinions expressed are their own.
Maarten de Wilde is an assistant professor at Erasmus University Rotterdam, and senior associate with Loyens and Loeff. He is the author of "Sharing the Pie: Taxing Multinationals in a Global Market". He is a guest columnist for Reuters Breakingviews. The opinions expressed are his own.