New French President Macron implements new legislation that threatens low tax rates & EU passport schemes

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Cyprus is going to receive mounting pressure to increase its corporate tax rate soon and needs to diversify its economy with meaningful reforms as the victory of Emmanuel Macron in Frances’ presidential elections signals a new push for a fiscal union, a financial expert stated. President Macron who used to an Investment Banker was elected based on a promise to reform and modernise and reform the French economy; has stated that after meeting German Chancellor Ms Angela Merkel, that he would like to amend a key the European treaty to establish a Eurozone finance ministry.