Ethics and governance in the European Financial centers

The AFP reported that the European Commission the day before yesterday proposed new measures to clamp down on tax dodgers who stash their cash in offshore accounts or use tax-free intermediaries.
Current European regulation, "although effective within the limits of its scope, can be easily circumvented," EU Taxation Commissioner Laszlo Kovacs said in a statement.

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Reuters has reported that Barack Obama's election as U.S. president will open up a new front in a growing campaign against Swiss banking secrecy, already under fire from Germany which wants the country put on a tax haven blacklist, officials said.
Reuters provided an overview of the situation in Europe for Liechtenstein, Luxembourg and Switzerland first .

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