I was at a session in he EU Parliament on the proposed reform of the EU Savings Tax Directive, speaking as an expert witness to the Economic and Monetary Affairs Committee.
One of the MEPs present asked if there was anyone in the room who would like to speak from the perspective of a 'tax haven'.
The Prince of Liechtenstein was there.
Colin Powell of Jersey Financial Services Commission was there.
A representative of Guernsey was there.
Not one offered to speak. Not one made a murmur in fact.
Why was that?
What are they so ashamed of?
Or is this offshore secrecy taken to its extreme?