Financial Transparency Coalition

Intensifying the pressure on its banks, the French government is introducing a new measure requiring all French banks to disclose information regarding their links to tax havens. Indeed, eager to make this compulsory measure widespread, the French government is expected to try to convince other countries to follow suit at the next G20 summit meeting.

Stephen Timms, financial secretary to the UK Treasury, will push this week for a move towards “country-by-country” financial reporting for multinationals.

A flurry of deals to help in the pursuit of evaders hiding money offshore will be signed this week as finance ministers meet in Berlin on Tuesday to review the international crackdown on tax havens.

Switzerland has signed a tentative agreement to share information with the United States about the billions of dollars that US citizens have stashed in secret Swiss bank accounts.