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Will the G20 Fall Prey to Collective Amnesia?
October 21st, 2010
BERLIN—On Friday and Saturday this week (October 22d-23th), the G20 Finance Ministers and Central Bank governors are due to meet in South Korea. The G20 had raised big expectations at a time when it promised the end of bank secrecy (London, April 2009). At that time, capital markets were reaching their lowest point over several years. Since then, they have partially recovered and the G20 tone has considerably softened. Would we have a correlation between Dow Jones levels and G20 softness? Without going that far, we can only reaffirm that transparency and the fight against corruption still have...
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Official G20 Seoul Summit Video Released
October 21st, 2010
As I'm sure that you know, we're gearing up for the upcoming G20 Summit this November in Seoul, South Korea. (Which reminds me, if you haven't already signed the G20 petition: please do so by clicking here...). The organizers of the G20 Seoul Summit (i.e. the Korean Government) have also been preparing, and they've just released their official video, "Let's go 뮤직비디오(영문) ." If you're not already pumped for Seoul beforehand, you sure will be after watching. Continue Reading
Thursday’s Daily News Digest
October 21st, 2010
Google Inc. cut its taxes by $3.1 billion in the last three years using a technique that moves most of its foreign profits through Ireland and the Netherlands to Bermuda.
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Clampdown on tax havens: Where does the International Finance Corporation stand?
October 21st, 2010
Should the World Bank’s private sector lending arm, the International Finance Corporation (IFC) set a clear policy regulating its investments in companies registered in tax havens? This question led a few weeks ago to one of the most heated discussions ever on the Executive Board of this institution. Last year, European NGOs asked their Executive Directors at the World Bank to set up binding guidelines to ban IFC investments in companies operating through tax havens. In response to pressure by civil society, the World Bank has taken swift action to start up this discussion; however, the Bank has not gone...
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