Tax havens are the banks' “get out of regulation free” card. Whenever politicians threatens to regulate banks and other corporations, they respond with “we’ll go offshore.”
How is it that an institution with an explicit mandate to promote development in the global South is financing companies who purposefully weasel out of paying revenues to the world's poorest governments, while extracting their natural resources and disrupting the livelihoods of local communities?
Welcome to a world without rules: How tax havens and secrecy contributed to the financial crisis.
Tax havens and financial secrecy have driven the corrupt behaviour underlying the global financial crisis. Any moves to reform the financial system need to tackle these issues head on.
This edition includes a brief summery of the state budget and its effect on state services and employees; unions in Paris send a message to the leaders of the G20, world labor leaders at the G20 see a long term solution to the economic crisis and that's jobs.
