Finance heads of Europe’s largest economies have urged banks to step up
efforts to disclose their sub-prime losses so as to restore investor confidence
in the markets.
At a Paris meeting yesterday, minsters from France, Germany, Italy and the UK
agreed to increase the pace of improving transparency, co-ordinating national
regulators, reviewing the role of credit rating agencies and strengthening
management of liquidity risks.
French minister Christine Lagarde called on banks to ‘accelerate’ their
efforts to identify and write down bad debts to ‘clearly improve the level of
confidence in the markets’.
‘We are united in our determination to make progress and to make progress
quickly,’ said UK chancellor of the exchequer Alistair Darling.
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"The whole idea of HMRC officials supplying confidential information about individuals to the media on a non-attributable basis is, or should be, a matter of serious concern," say Supreme Court judges
The EC has been instructed to draft a European Union (EU) directive authorising an EU financial transaction tax, which would apply to ten of the EU’s 28 member states
UK-based non-doms have paid ten times more tax than the average taxpayer, raising concerns over the Brexit impact on non-dom contributions and therefore, the economy