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Why has no progress been made on an international financial registry? One simple reason: wealthy westerners don’t want one
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Scooped by Graham Watson |
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Thomas Piketty has a fairly punchy assessment of how we might go about tightening sanctions on Russia, starting with the super-rich, and an equally damning assessment of why we haven't done this already.
He argues that the extent to which oligarchs have assets overseas makes tackling them relatively straightforward, but that wider measures, such as an international financial registry are being opposed because it runs contrary to the self-interest of the global elite.
If we all knew how little income tax the super-rich paid, we might think about readying the pitchforks!