EVCA study shows DACH lags behind Europe

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The numbers are in. EVCA has released the study "Benchmarking European Tax and Legal Environments", which indicates how favourable the EU countries are towards the development of private equity and venture capital. The study is good news for France, Ireland, Belgium and the UK, unsurprisingly at the top of the list.

Of the DACH countries, only Switzerland manages to rank better than the EU average, coming in 11th in the list, further improving its climb towards the top third of the table. Austria's position is just below the EU average at position 14; this is especially significant as Austria had improved significantly between the 2004 and 2006 study - no doubt the bungled MiFiG 2007 has a lot to answer for.

Germany remains well down the list, ranking not only as the last of the DACH region, but as 22nd of 27 states. The only states scoring worse are Cyprus, Romania, Slovenia, Slovakia and the Czech Republic - all recent additions to the EU and struggling with a number of burdens, very unlike Germany, which still remains Europe's economic powerhouse. (Page 9).