Financial Transparency Coalition

The list of four-letter words in frequent use by policy makers in Washington, Brussels, and other government capitals dealing with potential fiscal insolvency has no doubt grown steadfastly in recent months. And perhaps the dirtiest, most toxic of those words is also the most innocuous: debt. Indeed, talks of an American default earlier last month and the real danger of a Greek withdrawal from the Euro zone have called for strong reevaluation of the balance between government spending habits and revenue sources on both sides of the Atlantic. On the latter point, the issue has brought long-deserved attention...