Financial Transparency Coalition

This week and next I am traveling to Austria. Following from this trip, I am writing this two-part blog series on Austrian economics, its successes, failures, and application to current dilemmas in economic theory and policy. In the past few years the world—and the United States in particular—has witnessed a resurgence of the term “Austrian economics.” Many of those who use it, including Ron Paul who declared we are “all Austrians now” after his third place finish in Iowa, are referring to a narrow segment of the body of thought. That segement might be better termed “libertarianism.” Other bloggers and...

The European presidency has just issued a note advocating a push to increase financial transparency in Europe through its Savings Tax Directive. As they say:

"The Presidency attaches crucial importance to gear up bilateral talks in order to reach political agreement upon the adoption of the Savings Tax Directive in the very near future."

Unsurprisingly, there are some rather large flies in this ointment. Austria and Luxembourg have long been holdouts on the European Savings Tax Directive, working hard behind...

VIENNA (Reuters) - Austria's main political parties agreed on Wednesday to pass measures which should ease banking secrecy and help bring the Alpine republic up to OECD standards on financial transparency.

VIENNA (AFP)--Austrian members of parliament failed Wednesday to approve a resolution relaxing the country's strict banking secrecy laws, which came under fire this year.