Financial Transparency Coalition

While house prices across Europe have plunged in recent months, a stream of wealthy tax exiles is continuing to push up property prices in offshore tax enclaves across the continent.

A June 2009 Norwegian Commission on Capital Flight from Developing Countries report on illicit financial flows from developing countries and tax havens and put forward recommendations for reform efforts to be considered by the Norwegian Government.

The UK has failed to join a new international crackdown on financial secrecy and tax havens by more than 50 countries, including Germany, France and Spain - part of a package of measures to restore the world's economy to health.