The era of small-state privilege in Europe is coming to an end
Power is shifting to big states. "Citizenship, like tax, is another fundamental right of states. Who but the Maltese government ought to decide who is Maltese? Malta and Cyprus have used this power to make easy money, hawking the right to live and work in the EU to anyone willing to spend a few million euros on government bonds or an expensive flat overlooking the Mediterranean. But when a national passport also confers citizenship of the EU, it becomes every member’s business, some feel. The commission is taking steps to crack down on the practice. Another small-country privilege — to dish out passports however they see fit — is disappearing."
From The Economist