Crises trigger flight from risk – and that’s why we need country-by-country reporting

As the FT notes:

Share prices, commodities and the euro fell sharply as investors fled risky assets amid growing fears of a eurozone banking crisis

There's no great surprise here: I've maintained for ages that stock markets are over-valued; I have not changed my mind. Any excuse drives them down.

But that's a good reason for requiring country-by-country reporting.

CBC discloses country specific risk.

Isn't now the time when markets need that information more than ever?

And yet yesterday an accountant told me he could see no benefit that country-by-country reporting could provide.

Which said very little for his understanding of the issues in the world around him.

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