Tax havens: Stop the Hypocrisy!!

After the financial scandal in Germany about the list of hundreds rich German people found out by German secrets services having secret account in the Lichtenstein, I thought this video of Joseph Stiglitz who has been denouncing for years tax havens could be quite inspiring for our fellow hypocrits european politicians...

To make it shorts, Stiglitz denounces the hypocrisy which exist in the USA to act seriously for regulating tax havens. He says it's very easy, was only evocated once by Bush junior in 2002 who's decided to end up with the secret banking to fight terrorism... until he realises it was a concern for people of his own entourage...

He then adds that it would be very easy as the USA would just have to vote a law forbidding US banks to make transactions with tax havens. I guess it would be the same for the EU...

Just two figures, it is evaluated that an amount of 6000 billions $ go through tax havens every year, 50% of all world financial transactions! Not even mentioning money from corruption and criminality, this is truly a component of the dysfunctioning of globalisation today!!!

Two more examples to point out this last statement:

1. Transnational companies tend to use and abuse from tax havens to avoid to pay taxes in their countries of origin, then putting a strong pressure on states to take measure to decrease the burden of taxes on companies (who then has to be supported by the average citizens),
2. These havens encourage corruption in all regions of the globe, as it is systematically used by companies to get contracts in any field with no respect to national or international law. While we don't really realise the importance of it in Northern countries, like in Europe, corruption has enabled and still enable to purchase politicians in southern countries, like in the middle East or Bolivia, more recently and grab their fossil ressources for example for nothing, or just a few millions $ to buy a political agreement... to the discredit of generally poor citizens...

Time to regulate!! Isn't it!?