Nick Shaxson ■ Quote of the day – the future of tax havens

Quote of the day – the future of tax havens

Nick Shaxson

Published:

30 September 2016

Reading time:

< 1 min

Category:

Financial secrecy ↘ Inequality and human rights ↘

Tags:

From Joseph Stiglitz, writing in Vanity Fair:

“It will not be long before those nations that opt to continue with old-style secrecy will be labeled pariah states and be cut off from the global financial system.”

New and abusive games will continue to emerge to fill the vacuum left by old-style secrecy — including new forms of opacity — but he’s certainly onto something.

The article is a testament to Panama’s “commitment” to eliminate crime and secrecy from its financial sector.

Hat tip: Links.

Photo credit: Jérémy Barande / Ecole polytechnique Université Paris-Saclay

The author

Nick Shaxson

Nicholas Shaxson is a journalist and writer on the staff of Tax Justice Network. He is author of the book Poisoned Wells about the oil industry in Africa, published in 2007, and the more recent Treasure Islands: Tax havens and the Men who Stole the World, published by Random House in January 2011. He lives in Berlin.

See author’s full profile