Guntram B. Wolff via Caixin | G-20 ministers in Shanghai appeared to be aware of the importance of structural work. In particular, there was agreement in our panel discussions that the Base Erosion and Profit Shifting (BEPS) project of the OECD was an essential element to deal with tax avoidance and ensure that profits are taxed where economic activity generating it takes place.
James Alexander via Historinhas | Call me a conspiracy theorist but when three unrelated beasts of the global financial establishment all start talking about the same, previously unfashionable, thing it’s a bit of a coincidence.
Caixin | Last month, the G-20 summit held in Turkey endorsed the G-20/OECD Principles of Corporate Governance. As a G-20 country, China is on board with the standards, too. That means Chinese companies, especially state-owned enterprises, must adhere to the principles.
MADRID | March 12, 2015 | By Fernando G. Urbaneja | The exposure of Andorran lender by the US Treasury sounds word of warning to banks concealing the proceeds of organised crime.
MADRID | By Sean Duffy | This weekend´s G20 summit in Brisbane takes place against the backdrop of growing economic uncertainty. With the Eurozone on the verge of deflation, leaders are likely to focus on the ECB´s next move, as the world –and financials– await some tangible prospect of growth outlook. Corporate taxation –brought on the table again after the Luxleaks scandal– and climate change also likely to feature, despite the claims of host Australia.
MADRID | By JP Marin Arrese | When G-20 leaders meet tomorrow, discussions will be exposed to bad feelings and deep-rooted bitterness. Since the Cold War relations between the US and Russian presidents had never sunk to such low levels of mutual understanding. The unilateral intervention in Syria is poisoning bilateral relations, Mr Putin considering it as sheer trespassing in his own backyard. His latest offer to envisage a green light should Damascus responsibility be fully substantiated amounts to a time buying tactic. Should the US rebuke this overture, it could lead to an open clash.
By S. V. at VozPópuli | London has made an agreement with British tax havens such as Anguilla, Bermuda, the British Virgin Islands, Montserrat, Turks and Caicos so they will disclose name, address, date of birth, account number and transactions details of people with accounts in their territories. Then the UK will then send this information to Spain, France, Germany and Italy.
MADRID | The relaxed atmosphere in a seaside resort has undoubtedly helped coming to terms with a number of common sense goals. But delivery might prove more gruelling than expected. You don’t need to cross the Atlantic and be lectured by President Obama to concede that unwinding the feedback between financial and sovereign risks stands as a key requirement. Or to accept that current Spanish and Italian risk premium should be…
By Julia Pastor, in Madrid | On Tuesday, financial analysts at Link Securities commented that “Spain would be in the spotlight of present week political contacts”, of course, in a clear reference to the G-20 meeting at Mexico. “Discussions held there will largely focus on the country’s situation.” And that is exactly what has happened. Spanish president Mariano Rajoy arrived in Mexico with the aim of putting on the table…