From Foreign Policy Blog:As part of an overall package of regulations, European leaders pledged to crack down on tax havens over the weekend. “We want results on this, with a list of tax havens and a series of consequences,” said French President Nicolas Sarkozy. German Chancellor Angela Merkel, who's had tax havens in her crosshairs for a while, stressed the need to eliminate "“blind spots on the global map when it comes to financial-market products, market participants and instruments.”
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My Comment: I find this article fascinating for the simple reason that many of the small wars in the world, terrorist financing, and the maintaining of power by despotic tyrants .... all of their financial resources would be useless if these "safe" havens were no longer there.
But Foreign Policy is right on one point .... the U.S. is one of the biggest tax haven in the world. If they were to change their financial rules and regulations, their financial and economic system would be even more sicker than what it is today.