Australian economic reform: Lessons from the past, challenges for the future

The national anthem of Australia has some very pertinent lyrics to that country’s economic reform and performance path in recent decades. The reference to...

Few signs of fiscal reform

The document designed to restrain fiscal abuses of the past that contributed to the flaring up of the sovereign debt crisis in the euro area “periphery” in 2010-2012 remains little more than a paper promise: Europe’s public debts continue to climb and the hopes of sustained and real reforms of the fiscal space are fading.

 

Circumventing government

Cayman has taken just such a permissive approach to certain forms of financial regulation and has reaped the benefits. Extending that approach into other areas might well enable the island to become a hub for other entrepreneurial activities, to the benefit of islanders and to the world.

 

Fake economic news

Fake news is the name given primarily to political news that is not true. Unfortunately, much economic news is also not true, because the...
Graphic showing scissors cutting the 'T' in TAX in half

Massive deficits and tax cuts: Good for US growth or harmful in the long-run?

The election of Donald Trump in November 2016 was not just a public referendum on American social values, but on fiscal policy as well....

Offshore community should prepare for rough U.S. election season

The 2016 U.S. presidential campaign has been anything but ordinary. Barring any last minute surprises, it is set to feature the two most disliked...

Digital currencies and Hayek’s denationalization of money

Private currencies have always played an important role in the history of money. In the United States, for example, it was estimated that 8,000...
Spanish Flags

Spain’s fiscal outlook

Spain’s fiscal and economic development over the period from 2007 to 2017 reflects two different and politically opposed governments: that of socialist Jose Luis...

PFS Cayman – the client-focused directorship model

See our Profiles in the CFR eversion CLIENT FOCUSED  Independent directors have taken some flak recently. Following the financial crisis and the Weavering judgment, questions...

Bring on the Robot Revolution

The story of human development is a story of disruptive – and liberating -- innovation. More particularly it is a story of new tools....
Swiss Flag

Swiss review of corporate taxation: a typical Swiss consensus story

For the first time in its history, Switzerland will review its corporate taxation not for internal reasons but in response to international pressure. Switzerland has...

Cayman’s captives continue impressive growth

Cayman Finance Read our article in the Cayman Financial Review Magazine, eversion Since 2000 the number of captives in the Cayman Islands grew by over 43...

The best defence is a good offence

Both the US Congress and most of Europe took vacations at the end of the summer, bringing a temporary respite in most of the efforts by the American government, EU, OECD and many European governments; although American efforts to breach Swiss banking secrecy continued despite the August heat. Nonetheless, when congressmen and senators stagger back this fall from their mauling at the hands of constituents angry over soaring deficits and the proposed health care ‘reforms’, the proposed Stop Tax Haven Abuse Act, anti-offshore budget provisions...

EU blacklist: The real story is demographic decline and a panicked search for revenue

It used to be that a country would be blacklisted by the international community for genocide, aggressive warfare and other atrocities. No more. The European...

Brexit, May and Cayman

The U.K.’s political landscape has completely changed since I wrote my last article for the Cayman Financial Review in early June. Three weeks after that...

The offshore as a black hole – fact or fiction?

From a financial perspective, many consider that when money goes offshore, it enters a black hole. Bank secrecy, public corruption and the constant barrage of films and books which put the offshore in a bad light contribute to this image. 

 

The US as the world’s newest IFC and its impact on the Caribbean

During the last decade or so, the status of the U.S. as a superpower has enabled it to increasingly obtain market share from other...

What Britain expects of Mr Carney

It is fortunate that Mark Carney, who moves from the governorship of the Bank of Canada to that of the Bank of England in July 2013, is no stranger to political minefields.   

 

R.I.P.? Dying to close an offshore account

The FBAR, the Financial Crimes Enforcement Network (FinCEN) Form 114, was developed by the U.S. Department of the Treasury to collect and analyze information...