Monthly Archives:: August 2013

More on Cyprus, Jersey and the Captured State

Posted by & filed under Thoughts.

More and more details continue to emerge about the issue of ‘state capture’ in small tax havens and elsewhere, as I’ve remarked on many times. The latest is a particularly striking one from that old British tax haven favourite, Jersey. The rest of this is posted directly from the Tax Justice Blog. This one is really pretty outrageous.

Over…

Links Aug 30

Posted by & filed under Uncategorized.

U.S., Switzerland forge bank settlement deal amid tax probe ReutersReport sees bleak future for Swiss private banks swissinfoWooing The Wealthy Gulf Business NewsA focus on Dubai, with insights into general trends in private banking. See also: Private …

Jersey: finance industry is now effectively overseeing the police force

Posted by & filed under Uncategorized.

We just blogged (again) about Cyprus as the quintessentially ‘captured state’ – and now we provide what is perhaps an equally striking example of ‘state capture’ in the British tax haven of Jersey. Tipped off by Tax Research and the blog of controversi…

Links Aug 29

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Swiss Agree on Program for Banks to Settle U.S. Dispute BloombergSee also: U.S. And Swiss Reach Deal On Evaders—More Guilty Pleas Over Offshore Accounts ForbesJersey, Bermuda and BVI on new official French tax haven blacklist Les Echos (In French). T…

Quote of the day: Cyprus and state capture

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From the New York Times, our quote of the day (in bold), one in an occasional series:“Whoever controls the Bank of Cyprus controls the island,” said Andreas Marangos, a Limassol lawyer whose clients include many Russians.We mention this for two rea…