One of the biggest collaborative efforts in the history of journalism by the International Consortium of Investigative Journalists has exposed a large part of the dark, secretive world of offshore tax havens where the wealthy hide their fortunes from governments. In their ongoing report, they've now named a member of one of the richest families in the history of the world: the Rothschilds. In just the week since this report was first released, we've already seen governments around the world responding:
-French President Francois Hollande has called for the "eradication" of the world's tax havens.
-Europe's five biggest economic powers — Britain, France, Germany, Italy and Spain —announced they would begin regularly exchanging banking and tax information.
-Luxembourg's Prime Minister Jean-Claude Juncker announced his country plans to lift bank secrecy rules for European Union citizens. A major step for a country whose banking industry is roughly 22 times the size of its economy.
-The Indian Finance Minister P. Chidambaram said an inquiry had been initiated by the authorities against individuals whose names figured in the global media report.
-Philippine government officials said they will investigate evidence that Maria Imelda Marcos Manotoc, a provincial governor and daughter of the late dictator Ferdinand Marcos, was the beneficiary of a secret BVI offshore trust.
http://www.icij.org/blog/2013/04/high...
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