Ethics and governance in the European Financial centers

The OECD is being urged to update the evasion blacklist as only three countries currently remain on the OECD list of tax havens: Liechtenstein, Monaco and Andorra.

As the Financial Times reported, quoting a French Official: "There are some countries which said they would co-operate and which were then removed from the list, but in practice they have not at all".

For instance, in the context of the Liechtenstein scandal, that should inciter to be careful, when

1) officials are bold enough to state that "It is not our duty to control if the tax payer was honest" or "Banking secrecy remains : Luxembourg is not compelled to communicate its clients'data"

2) some bankers agree to facilitate tax evasion from Liechtenstein to Luxembourg.

such center is unfortunately not reliable and trustable anymore: neither for the investor whoever he or she is, nor for organisations like the OECD.

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