|This the Tax Justice Network looks at the offshorisation of Iceland's economy, its collapse and recovery. What are the lessons? Also, Brazil adds Ireland to its tax haven blacklist and Panama threatens anyone who dares call it a tax haven with a new law.
Produced by Naomi Fowler for the Tax Justice Network and featuring Sigrun Davidsdottir, journalist, blogger and podcaster, journalist Ingólfur Sigfússon and John Christensen of the Tax Justice Network.
“Iceland didn't do what Europe has been doing, lingering in a limbo and not really tackling the big issues, we can see that every so often the European banking sector is struggling now with Italian banks, with Deutsche bank and so on, and this is very much down to the fact the painful things have been avoided and I often say that Iceland shows that a quick stab is better than a lingering pain. Iceland took the quick stab, it was extremely painful at the time but at least things have and are being slowly cleared out and that makes a huge difference compared to the so many European countries where the lingering pain is still there.”
Sigrun Davidsdottir, journalist, blogger and podcaster www.uti.is
“Panama is not just a major secrecy jurisdiction, it is a politically delinquent secrecy jurisdiction...they are moving away from a democratic country where civil society can interact freely...to an increasingly autocratic model and Panama now deserves to have strong international sanctions imposed upon it to make sure it doesn't proceed down this highly autocratic highly secretive, highly non-cooperative model because the only people who'll benefit from that are the criminals”
John Christensen of the Tax Justice Network