Offshore banking: a major contributor to the economic crisis

Jul 23, 2012 No Comments by

A couple of recent Guardian articles draw attention to the enormous role played by offshore banking in the world economy. This article describes a study which estimates the size of the offshore economy at 13 trillion euros, while this one examines the extent to which tax havens undermine the overall economy.

Related posts:

  1. Unmissable set of posts re Banking and Euro crisis from #MMT economists
  2. Mike Haywood’s Banking Crisis Digest of April 18th
  3. Offshore banking and tax havens
  4. Mike Hayward’s Banking Crisis Digest of March 9 2011
  5. Mike Haywood’s Banking Crisis Digest of March 1 2011
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About the author

Caroline Whyte collaborated with Richard Douthwaite on an online update of his book Short Circuit: Strengthening Local Economies in an Unstable World in 2002-3 and went on to study ecological economics at Mälardalen University in Sweden in 2005-6, writing a masters thesis on the relationship between central banking and sustainability. She compiled the conclusion for Feasta's 2011 book Fleeing Vesuvius and was a contributor to the Feasta Climate Group's book Sharing for Survival in 2012. She lives in central France, from where she edits the Feasta website.