Re: Blacklisting --

[ Follow Ups ] [ Post Followup ] [ Briland Modem ]

Posted by Colin Clark on March 12, 2001 at 12:44:04:

In Reply to: Blacklisting -- posted by Briland Modem News Team on March 09, 2001 at 08:51:20:

All,

My wife and I follow this issue closely. Pressure has been building throughout Europe on offshore banking centers for several reasons.

1--The governments of Europe lose huge quantities of tax dollars to the offshore centers. As most, but not all, of those centers are British or former British colonies, the continentals (especially the French) are more than happy to push this issue.

2--Switzerland caved in to demands from around the world for greater transparency and law enforcement. That set a precedent and removed the one country that was European, rich and powerful, clearing the way for an assault on the tiny and poor countries that depend so much for revenue from offshore banking.

3--The anti-drug efforts in Australia, the U.S. and in Europe, as well as those underway by the UN, made clear to foreign policymakers just how important the offshore centers are to money laundering.

Put all those together and you've got a powerful array of interests focussed on fairly small countries. HOWEVER, the new US Treasure Secretary indicated last week or the week before that he thought the efforts at so-called transparency might be going too far.

If the US opposes this it is not likely to go very far as that would leave Britain and the US in opposition.

Remember though that this is not just big countries mad at small countries. There are powerful constituencies at work in a number of countries, not all of them with the same agendas...

Focussing your efforts of persuasion on influential members of Congress (eg., many Floridians have much to gain by retaining the Bahamas as an offshore center) and getting US businesses to make clear the importance of the offshore financial centers to their doing business would be most effective, I think. Of course, if you have access to newly installed members of the Bush administration, that would not hurt. And there are visitors to Briland with just such access...

Hope this helps,

Colin
: There is a web site devoted to the blacklisting of the Bahamas and other offshore financial centres.

: The Blacklisting
: http://www.bahamasb2b.com/b2b/big_picture/the_blacklisting.htm

: It's a must read for every Bahamian. Let's get the discussion going.

Follow Ups:

Post a Followup

Name:
E-Mail:

Subject:

Comments:
: All, : My wife and I follow this issue closely. Pressure has been building throughout Europe on offshore banking centers for several reasons. : 1--The governments of Europe lose huge quantities of tax dollars to the offshore centers. As most, but not all, of those centers are British or former British colonies, the continentals (especially the French) are more than happy to push this issue. : 2--Switzerland caved in to demands from around the world for greater transparency and law enforcement. That set a precedent and removed the one country that was European, rich and powerful, clearing the way for an assault on the tiny and poor countries that depend so much for revenue from offshore banking. : 3--The anti-drug efforts in Australia, the U.S. and in Europe, as well as those underway by the UN, made clear to foreign policymakers just how important the offshore centers are to money laundering. : Put all those together and you've got a powerful array of interests focussed on fairly small countries. HOWEVER, the new US Treasure Secretary indicated last week or the week before that he thought the efforts at so-called transparency might be going too far. : If the US opposes this it is not likely to go very far as that would leave Britain and the US in opposition. : Remember though that this is not just big countries mad at small countries. There are powerful constituencies at work in a number of countries, not all of them with the same agendas... : Focussing your efforts of persuasion on influential members of Congress (eg., many Floridians have much to gain by retaining the Bahamas as an offshore center) and getting US businesses to make clear the importance of the offshore financial centers to their doing business would be most effective, I think. Of course, if you have access to newly installed members of the Bush administration, that would not hurt. And there are visitors to Briland with just such access... : Hope this helps, : Colin : : There is a web site devoted to the blacklisting of the Bahamas and other offshore financial centres. : : The Blacklisting : : http://www.bahamasb2b.com/b2b/big_picture/the_blacklisting.htm : : It's a must read for every Bahamian. Let's get the discussion going.

Optional Link URL:
Link Title:
Optional Image URL:

[ Follow Ups ] [ Post Followup ] [ Briland Modem ]