A record sequestration of more than €26 billion ($29 billion) in sovereign tax assets by wealthy regional enclaves has triggered an unprecedented, systemic collapse of central national budgets across the traditional nation-state. This fiscal fracturing — recently exposed in a structural analysis by the Centre for European Policy Studies — materialized after autonomous provinces like Catalonia in Spain, Flanders in Belgium and Lombardy in Italy systematically locked away national wealth inside re

Source: Arab News