TJN has written in great depth about Switzerland and its role in financial secrecy. Now we have a guest blog written from Switzerland:
Switzerland is indeed one of the major providers of international financial secrecy. Unfortunately, the same is true for most of the so-called 'advanced' economies among the G-20 members.
The United States rank fifth on TJN's Financial Secrecy Index 2011, which also includes Japan (rank 8), Germany (rank 9), the UK (rank 13) and Canada (rank 24) among its 'top 25'.
Drawing on the detailed expertise and insights of local member organisations all over the world, TJN has always sought to expose financial secrecy mechanisms wherever they occur, including in the case of G-20 members.
The above press release takes a more one-sided approach. Were the G-20 to expel all major providers of financial secrecy, it would not only become more legitimate, but also significantly smaller (a G-15?). It is important to note that the authors of the above press release have not had the
opportunity to consult with Swiss TJN members. The responsibility for any
possible factual errors remains theirs.
We welcome the downsize of the original press release of TJN to a guest blog.
Bruno Gurtner, Chair Global Board TJN, Switzerland
Mark Herkenrath, AllianceSud, Switzerland
Olivier Longchamp, Berne Declaration, Switzerland