Illicit Money Flows from Mexico
- Details
- Written by Global Financial Integrity
- Category: Documents
Crime, corruption and tax evasion cost the Mexican economy US$872 billion between 1970 and 2010 according to a new report from Global Financial Integrity (GFI), a Washington, DC-based research and advocacy organization. The illicit financial outflows, which averaged a massive 5.2% of GDP, grew significantly over the 41-year period studied from just US$1 billion in 1970 to US$68.5 billion in 2010.
When an EU Commissionar takes over the arguments of a social movement
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- Written by Peter Wahl
- Category: Analysis
In an article published on February 1, in the German newspaper Süddeutsche Zeitung, EU Commissioner Algirdas Semetas defends the Financial Transaction Tax with precisely the arguments used by the European Finance and Development Network. Worth reading!
Peter Wahl
Thanks for the translation made by Peter Wahl and Markus Gaudus
"Little by little the financial transaction tax approaches its implementation. There is increasing consensus on many aspects of the Commission’s proposal, and with regard to the remaining controversies there are constructive contributions being made. Simultaneously a massive wave in support for the FTT has emerged among citizens. For them, the benefits of this tax are clear: An equitable distribution of the tax burden, a more stable financial sector and considerable additional revenues.
Read more: When an EU Commissionar takes over the arguments of a social movement
Global Employment Trends 2012
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- Written by ILO
- Category: Documents
According to the 2012 of the ILO report on Global Employment Trends (GET), the world faces the “urgent challenge” of creating 600 million productive jobs over the next decade in order to generate sustainable growth and maintain social cohesion. The GET report offers the latest global and regional information and projections on several indicators of the labour market, including unemployment, youth employment and working poverty.
Working towards a never-ending democracy
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- Written by Antonio Martins
- Category: Analysis
For five centuries, Europe has taken it upon itself to enlighten the world, teaching it ways to address and overcome crises, from ideas and wars to missionary work and genocides. But it forgot it only held a part of the world's knowledge and now it is on the verge of the abyss, and it is time for a different approach. That is the assessment made by Portuguese sociologist Boaventura Sousa Santos who spoke to an audience of 300 at the Thematic Social Forum(TSF), which is being held from Jan. 24 to 29 in the southern Brazilian city of Porto Alegre and surrounding municipalities.
Statement for the WEF in Davos
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- Written by Financial Integrity Task Force
- Category: Analysis
The challenge to world leaders at Davos is to restore faith in the financial system by implementing a manifesto for economic justice
World leaders' inability to articulate a narrative beyond a long, hard march out of economic malaise ultimately caused by politicians' and regulators' failure to adequately supervise the financial system is resulting in widespread disillusionment with mainstream politics that threatens to undermine faith in democracy. World leaders need to respond quickly, and the finance community must play its role.
The Class of Davos
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- Written by TNI
- Category: Analysis
In a small ski resort in the Swiss Alps, thousands of corporate and political elites gather at the exclusive World Economic Forum during an unprecedented crisis of legitimacy. Its founding President, Klaus Schwab has admitted that capitalism "is out of whack" and needs fixing. Schwab argues that the economic crises we face are due to excesses and "lack of inclusiveness."
To mark the occasion, the Transnational Institute has produced a series of powerful infographics to expose the reality of corporate power and its immense social and environmental costs. They show that the problems are systemic and a result of the hijack of political and economic policy by a small corporate elite. The Davos Class cannot possibly find a solution, because their entrenched power is the reason for the crises.
Re-inventing the world!
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- Written by Thematic Social Forum Rio+20
- Category: Analysis
People put themselves in motion. Occupy Wall Street spreads the United States. Protests and indigenous mobilizations produce a great ferment in the Andean region usually stormy. An unusual level of activity of mass movements affects even countries known for their social stability. On October 15 we had almost a thousand demonstrations in cities of 82 countries.
The World's Best Tax?
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- Written by Ann Hollingshead
- Category: Analysis
(From the website of Global Financial Integrity)
The global financial crisis—including the housing market bubble in the United States, the plummeting of the stock market, soaring unemployment and the resulting Great Recession worldwide—sparked an inundation of ideas about what we should do next or what we should have done differently. Many of these ideas are not new. In fact, many of them are very old. As a result, particularly in the United States and in Europe, we’ve seen a resurgence of economic thought from the full spectrum of thought—from Frederick Hayek and Milton Friedman to John Maynard Keynes.
Outflows, not aid, must be curtailed to fight poverty
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- Written by Raymond Baker
- Category: Analysis
(From the Huffington Post)
We learned some devastating news last month. A new study from Global Financial Integrity revealed that despite the onset of the global financial crisis in late 2008, the developing world still suffered nearly $1 trillion in illicit financial outflows in 2009, a number that is almost 10 times larger than the official development assistance they receive each year from Western economies like the United States, United Kingdom and Norway.
Read more: Outflows, not aid, must be curtailed to fight poverty
The Future we want: Rio+20
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- Written by UN
- Category: Documents
First version of the draft document for the Rio+20 Conference.
Sarkozy and the FTT
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- Category: News
Nicolas Sarkozy is President of France. And France has presidential elections in 4 months. Sarkozy does not do so well in the opinion polls. So why not make some last minute ‘brave’ proposals? One of them is the introduction, in France, of a Financial Transaction Tax, without waiting for other EU countries.
Of course, he has to ask the authorization of Ms Merkel, we will see tomorrow what her answer was. And at any rate, the FTT seems to be limited to a stock exchange stamp duty, of the kind existing in the UK. Shares would be taxed at 0,1 %, derivatives are not sure yet, and bonds will be excluded. The British stamp duty is 0,5 %. ‘Paris Europlace’ the organization which represents all actors on the Paris Stock Exchange is far from happy and threatens to leave the French capital. Yes, UK taxes are higher, but profits are also much higher in London. And those who will have to pay the tax are those who are not responsible for the crisis …
To be followed.
