Analysis
Dictator"s Riches stolen at home, but banked in the West
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- Written by Stefanie Ostfeld
(From Global Financial Integrity)
Corrupt dictators who take bribes and loot their treasuries are rightly condemned by governments and other observers in developed countries. But the extent to which this plundering is aided by lax and weakly enforced money laundering laws in the West has too often escaped notice. It is remarkably easy for these criminals to hide their identities behind anonymous shell companies and bank secrecy in order to bring their dirty money into the United States and Europe.
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Redistribution: a dirty word ...
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- Written by Ann Hoillingshead
Redistribution is a dirty word. It’s become something of a catch phrase for the Tea Party and Libertarians. In 2008 the McCain campaign sought to unfavorably label Obama a “redistributor” in speeches and attack ads. But perhaps this is not a recent development. Libertarians point out that many of our early presidents were also suspicious of redistributionist policies. President Grover Cleveland, for example, vetoed a bill in 1887 that would have given $10,000 in aid to Texas farmers struggling with a drought. He rationalized that he did not believe it is the duty of the government to relieve “individual suffering which is in no manner properly related to the public service or benefit.”
World Wealth Report 2012
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- Written by Allianz
Private wealth larger than public debt ... and how Germany profits from European policies ...
Universal Health Coverage
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- Written by The Lancet
"…….Margaret Chan, Director General of the World Health Organization WHO, has stated that "Universal Health Coverage is the single most powerful concept that public health has to offer."
In this themed issue of The Lancet, the first of three Series papers explores the evidence on the links between expansions in coverage and population health outcomes. The second paper looks at the political and economic dimensions of the transition to universal health coverage, and the third examines nine low-income and lower-middle-income countries in Africa and Asia that have implemented national health insurance reforms. Also, a Viewpoint calls for continued progress and argues for a large public sector role in health systems reform.
Website: http://bit.ly/PA24Ye
US proves stumbling block in IMF reform
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- Written by AFP
After urging the IMF to reform, the US has been dragging its heavy feet and blocking, in fact, proposals aimed at giving emerging economies more say in the global lender. The US, by far the biggest stakeholder in the 188-nation International Monetary Fund, is the only member of the Group of Eight that has yet to ratify a quota hike that would double its permanent resources to about $767 billion and executive board reforms that would strengthen the role of emerging economies.
From 2003-2011, Collective Illicit Financial Flows into and out of Greece Total US$509 Billion
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- Written by Raymond Baker
The Greek economy lost US$261 billion to crime, corruption, and tax evasion from 2003-2011, Global Financial Integrity (GFI) Director Raymond Baker told Der Spiegel in an exclusive interview (English version here) published yesterday in the German news magazine. Interestingly, while Greece experienced heavy illicit outflows for 6 of the first 7 years in that time series, Greece experienced massive inflows of illicit money in 2010 and 2011.
Financial Transaction Tax: Update on state of play in the EU
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- Written by Peter Wahl
1. The way for the FTT in the framework of Enhanced Cooperation1 is free after the official
statement in the European Council (end of June) that an FTT in the EU-27 would not be
possible, and the process has been started.
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Inequality! You don't know half of it
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- Written by Tax Justice Network
Why Inequality is much worse than you thought ...
The price of offshore revisited
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- Written by Tax Justice Network
The wealthy hold between US$21 trillion and US$32 trillion of undeclared income according to a new report by the Tax Justice Network (TJN). This summarises the most detailed attempt to calculate the scale of wealth held in offshore jurisdictions and hidden ownership structures such as companies, trusts and foundations with unclear or undisclosed ownership. This is further evidence for why ownership of corporate vehicles must be disclosed.
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