asterisk2a + switzerland   21

Netherlands and UK are biggest channels for corporate tax avoidance | World news | The Guardian
The two countries are conduits for 37% of money heading to tax havens, most of which have strong links to Britain
tax  evasion  avoidance  Germany  Apple  Google  Intel  HMRC  Netherlands  Luxembourg  Switzerland  UK  Brexit  Austerity  bank  bailout 
july 2017 by asterisk2a
Tour de France 2017: Is Chris Froome Britain's least loved great sportsman? - BBC Sport
All big british sport stars love Monaco ... not just for the temperatur climate. also for the tax climate. // current and former uk sport stars. even IAAF and sebastian coe are in monaco. and IOC FIFA are in Switzerland // Germans always quircked that their Michael Schumacher 'escaped' to Switzerland. // and even, if I remember right, some/one uk female cyclist w boyfriend reside in monacco
UK  HMRC  tax  evasion  avoidance  culture  Sport  IAAF  IOC  FIFA  Monaco  Switzerland  haven  OECD  European  Union 
july 2017 by asterisk2a
Tax evaders exposed: why the super-rich are even richer than we thought | Inequality | The Guardian
The higher one moves up the wealth distribution, the higher the probability ​​of hiding​ assets [...] More broadly, the key to successfully fighting tax evasion is to change the incentives for the providers of wealth concealment services. Over the last few years, a number of banks have pleaded guilty in the US to criminal conspiracies to defraud the Internal Revenue Service – yet they were able to keep their banking licences, and the fines they had to pay paled in comparison to their profits. A more ambitious approach would put criminal organisations out of business. If tax evasion ceases to pay, it will disappear.
UK  tax  evasion  avoidance  taxation  corporate  welfare  asset  capital  Thomas  Piketty  lobby  Delaware  USA  Luxembourg  Ireland  offshore  banking  money  laundering  Super  Rich  1%  Plutocracy  Oligarchy  revolving  door  KPMG  PanamaPapers  Switzerland  moral  ethics  crime  White-collar  HMRC  Austerity  gini  coefficient  inequality  social  mobility  income  poverty  trap  state  Meritocracy  Meritocratic 
june 2017 by asterisk2a
EU tells Swiss no single market access if no free movement of citizens | World news | The Guardian
A British Influence poll showed a majority of UK citizens are heavily opposed to the ejection of EU citizens from the UK.

UK politicians will argue they cannot make guarantees about the status of EU migrants in the UK until similar guarantees are made by the EU about the status of Britons living there, or they would be unilaterally throwing away one of their few negotiating cards.
Brexit  immigration  Freedom  of  Movement  Single  Market  free  trade  free  trade  agreement  UK  Switzerland  EEA 
july 2016 by asterisk2a
Bank of Japan shocks markets by adopting negative interest rates | World news | The Guardian
BOJ shock decision to adopt negative interest rates, in an attempt to protect the flagging economy from market volatility and fears over the global economy. In a 5-4 vote, the bank’s board imposed a 0.1% fee on deposits left with the Bank of Japan (BoJ) – in effect a negative interest rate. The move, which follows the similarly aggressive precedent set by the ECB in June 2014, is designed to encourage commercial banks to use excess reserves they keep with the central bank to lend to businesses. //&! The Disturbing Reasons Why The Bank Of Japan Stunned Everyone With Negative Rates - bit.ly/1UvpOyO - encouraging capex, supporting existing bubbles ie equity and bonds (joining draghi). Citing examples of Sweden and Switzerland with NIRP. And ECB of combining QE and NIRP. Combating China exporting deflation. And keep the pace of JGB purchases, keeping the bubble floating. [A] "last-ditch measure"[.] [I]t may be time to panic. - 2016/2017 //&! Currency War - bit.ly/1QwOGox
ECB  BOJ  ZIRP  NIRP  QE  debt  monetisation  debt  monetization  monetary  policy  monetary  transmission  mechanism  monetary  theory  unconventional  monetary  policy  monetary  stimulus  monetary  system  deposit  levy  MarioDraghi  Abenomics  economic  history  deleveraging  debtoverhang  balance  sheet  recession  GFC  recovery  Yen  Euro  credit  bubble  liquidity  trap  distortion  asset  bubble  asset  allocation  equity  bubble  speculative  bubbles  bond  bubble  property  bubble  debt  bubble  New  Normal  financial  repression  faultlines  global  economy  structural  imbalance  global  imbalances  demographic  bubble  ageing  population  Japan  UK  secular  stagnation  western  world  inflation  expectation  inflation  targeting  nominal  GDP  targeting  deflation  Sweden  Switzerland  China  Yuan  JGB  2016  USA  Europe  sovereign  debt  crisis  austerity  business  confidence  consumer  confidence  Super  Cycle  recession  currency-war  currency  debasement  currency  war 
january 2016 by asterisk2a
BBC News - HSBC scandal shows 'dilly dallying' on tax crackdown
it is a case study of a much wider problem of governments not cracking down with enough urgency on dodged tax, and a useful lesson on the short arm of international law. John Christensen, executive director of Tax Justice Network, says HSBC was not alone in assisting rich clients in paying less tax. "It's one among a lot of very big players," he says. The problem for those collecting tax is one of information exchange, he says. The UK and other governments have been "dilly dallying" on this front, he adds. &! &! &! The UK's tax office has said it was prevented by an international agreement from sharing information about HSBC's possible involvement in tax evasion. - http://www.bbc.co.uk/news/business-31359962 &! Day after >> http://www.bbc.co.uk/news/uk-politics-31412434 &! http://www.theguardian.com/business/2015/feb/11/hsbc-files-show-tories-raised-over-5m-from-hsbc-swiss-account-holders &! bbc.in/1AbH2vc &! bit.ly/1zNzoVE
tax  avoidance  tax  evasion  No  Representation  Career  Politicians  Lobbying  lobbyist  lobby  revolving  door  democracy  fairness  1%  Super  Rich  exploitation  Wall  Street  profit  maximisation  shareholder  value  corporate  governance  corporate  culture  crony  capitalism  UK  USA  Switzerland  offshore  banking  TTIP  loopholes  ethical  machine  GFC  banking  crisis  trust  trustagent  confidence  toobigtofail  TBTF  too  big  to  jail 
february 2015 by asterisk2a
Jürgen Trittin: Plädoyer für linke Reformen - SPIEGEL ONLINE
Heute ist es für viele Menschen, gerade wirtschaftlich Schwächere, schwer geworden, dem Begriff "Reform" etwas Gutes abzugewinnen. Viel zu oft war Reform ein Synonym für sozialen Rückschritt & Ausschluss aus der Gesellschaft. Reform heute ist neoliberal aufgeladen, es steht für Deregulierung, für weniger Sicherheit, mehr Armutsrisiko & weniger Demokratie. Diese reale Erfahrung hat die Angst vor Veränderung erhöht. So haben Konservative leichtes Spiel. Das Bittere ist: Für diese Diskreditierung von Veränderung, für die Umdeutung von Reform sind auch Regierungen der linken Mitte mitverantwortlich. Links reden, rechts wählen - das ist keine deutsche Marotte. Als Folge der Finanzkrise wurden in Europa erst einmal reihenweise konservative & wirtschaftsliberale Regierungen gewählt. Gerade dort, wo die Krise wirklich zugeschlagen hat, zeigte sich wieder einmal: Krisen sind keine guten Zeiten für eine Politik der linken Mitte. [GroKo: Das allermeiste bleibt, wie es ist.] youtu.be/yAmiQJYqjxM
Germany  neoliberal  neoliberalism  economic  history  AfD  liberal  economic  reform  Zeitarbeit  Niedriglohn  Niedriglohnsektor  hartz-iv  Minijob  1  Euro  Job  Agenda  2010  underemployed  working  poor  squeezed  middle  class  structural  unemployment  child  poverty  poverty  in  old  age  poverty  Gini  coefficient  inequality  income  inequality  Kinderbetreuung  crony  capitalism  Bailout  No  Representation  Career  Politicians  GFC  deregulation  security  fairness  book  Gerechtigkeit  pollution  resource  depletion  climate  change  insecurity  unsertainty  immigration  imigrants  Zivilgesellschaft  Politics  GroKo  Angela  Merkel  2014  capitalism  Lobbying  lobbyist  lobby  compromise  European  Election  2014  UKIP  FPÖ  Austria  Switzerland  tax  avoidance  tax  evasion  Elite  Super  Rich  Privileged  society  Europe  flat  world  globalization  globalisation  competitive  advantage  competitiveness  Competition  competitive  comparative  advantage  BRIC  MINT 
september 2014 by asterisk2a
Neue Steuer CD löst bundesweite Razzien aus - SPIEGEL ONLINE
tax evasion becomes less tasty. except you are a fortune 500 company and funnel your money through a dozen of mailbox companies. UK and Germany have deals with Switzerland. More to come.
offshore  banking  CaymanIslands  Cyprus  UK  Germany  taxevasion  Switzerland 
april 2013 by asterisk2a
Aus für Traditionsbank Wegelin bedroht Schweizer Finanzbranche - SPIEGEL ONLINE
Zum ersten Mal hat eine Schweizer Bank gestanden, Amerikanern beim Steuerbetrug geholfen zu haben - das Traditionshaus Wegelin zahlt dafür mit seiner Existenz. Auch großen Instituten drohen teure Verfahren. Der Streit könnte zum Ende des Bankgeheimnisses führen.

[...] Bankenexperte Kunz vermutet, dass Wegelin sich den US-Behörden als eine Art Kronzeuge angedient hat - und so die Höhe der Strafe drücken konnte. "Ich hätte mit einer höheren Summe gerechnet", sagt Kunz. Die Bank wollte zu diesem Vorwurf auf Nachfrage nicht Stellung nehmen.

- UK came into agreement w Swiss
- GER came into agreement w Swiss
- France is introducing +75% tax rate for the wealthy
Julius  Bär  Credit  Suisse  sovereign  debt  crisis  2013  2012  GFC  greatrecession  society  culture  France  UK  we  are  all  in  it  together  austerity  Germany  Bankgeheimnis  Schweizer  Bankgeheimnis  taxevasion  USA  bank  crisis  banking  crisis  Switzerland  Wegelin 
january 2013 by asterisk2a
PIMCO | Investment Outlook - Cult Figures
​- The long-term history of inflation adjusted returns from stocks shows a persistent but recently fading 6.6% real return since 1912.
- The legitimate question that market analysts, government forecasters and pension consultants should answer is how that return can be duplicated in the future.
- Unfair though it may be, an investor should continue to expect an attempted inflationary solution in almost all developed economies over the next few years and even decades.

[[For FX traders, a burgeoning era of inflation will ensure that high levels of volatility continue. Central bankers will repeatedly be tested and money will skip around the globe.]]

= Countries that take the brunt right now are Australia, Canada, New Zealand, Singapore, Brazil, Switzerland etc. countries where there is wealth and trust in institutions and or got natural resources (commodities, growing consumer), or is a creditor nation.
accounting  global-economy  global  imbalances  developed  world  frontiermarkets  emergingmarkets  BRIC  Switzerland  hot-money  currency-war  currency  debasement  unintended  consequences  EMU  UK  BOE  ECB  Fed  centralbanks  monetary  theory  monetary  policy  economic-thought  deleveraging  debt  bubble  debtoverhang  confidence  trustagent  trust  politics  pension  pension  scheme  pension  obligation  pension  fund  financial  repression  economic  history  Europe  USA  lostdecade  greatrecession  GFC  PIMCO  new-normal  inflation  reflation 
august 2012 by asterisk2a
Is The Swiss National Bank Faking It? | ZeroHedge
if one needs to know the true state of events in Europe, the only real remaining, unmanipulated benchmark remain Swiss nominal bond yields. And at -23.5 bps for the 2 Year it is telling us that nothing is fixed. As usual.

***

The SNB sterilised one half of its FX intervention in May.

"This is highly significant and undermines the credibility of the SNB’s claim that it is willing to do whatever it takes to hold EUR/CHF 1.20. For the floor to be credible the SNB needs to surrender control over the Swiss monetary based, i.e. it has to be willing to deliver both unlimited and unsterilised FX intervention. The intervention in May was certainly unlimited; it most definitely was not unsterilised."

SNB's FX policy is "at odds with the needs of an economy which is growing at 2% p.a, which has no output gap and in which the housing market is overheating and credit growth is becoming problematic."
monetary  theory  monetary  policy  System  inflation  property  bubble  credit  bubble  bubble  BIS  centralbanks  currency-war  capital-flight  capital-controls  foreignexchange  CHF  Switzerland  SNB  2012  sovereign  debt  crisis  EMU  Europe 
july 2012 by asterisk2a
Notes for currency wars: The trilemma of international finance | vox - Research-based policy analysis and commentary from leading economists
The fundamental trilemma of international finance maintains that a country cannot simultaneously peg an exchange rate, maintain an independent monetary policy, and permit free cross-border financial flows (Feenstra and Taylor 2008). At best, only two of the three are feasible.
macroeconomics  economics  international  finance  monetary  theory  monetary  policy  PBoC  CHF  currency-war  currency  debasement  SNB  Switzerland  foreignexchange 
june 2012 by asterisk2a
New Swiss Tax Rules Signal Big Changes for Private Banks (NYT)
New Swiss Tax Rules Signal Big Changes for Private Banks (NYT)
Switzerland aims to sign new treaties by the summer with Germany and Britain under which their citizens would pay taxes on more of their undeclared assets in Swiss banks. France and Italy are expected to follow suit.
taxevasion  Switzerland  UK  germany 
april 2011 by asterisk2a
Seeking Bank Secrecy in Asia - NYTimes.com
For centuries, Switzerland has been the sanctuary of choice for wealthy people seeking to hide their fortunes and evade taxes. Now, amid a growing crackdown on Swiss private banking, the rich are flocking to Singapore and Hong Kong, which still offer some of the world’s most secret accounts.

But there is a twist in this shift to the East: Many of the banks growing in these low-tax oases have Swiss pedigrees. And their clients are not only Asia’s growing number of millionaires but also wealthy Americans and Europeans who, lawyers say, have been spooked by mounting scrutiny from the tax authorities in their own countries.

UBS, the largest bank in Switzerland, has lost an estimated 200 billion Swiss francs, or about $200 billion, in assets from private banking clients over the past two years. But in Asia, it has won more new money than it has lost, according to an August presentation to investors by the bank’s chief executive of wealth management, Jürg Zeltner.
UBS  Switzerland  swiss  banksecret  USA  Europe  Germany  taxevasion  hongkong  singapore 
september 2010 by asterisk2a

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