Sanctions from March 2010

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G20 to slap sanctions on tax havens from March 2010 | Business News | Reuters .

Finance ministers and central bankers from the Group of 20 on Saturday gave tax havens until March 2010 to cooperate on tax evasion or face sanctions.

Officials from the world's 20 biggest developed and emerging economies asked the Financial Stability Board of G20 central bankers, regulators and finance ministry officials to report on criteria and compliance by November 2009.

The G20 stood "ready to use countermeasures against tax havens from March 2010," they said in a statement.

Better than nothing.

But no real progress on key issues like Automatic Information Exchange.

Overall outlook: worrying.