Raisbeck discussed whether the European Union’s attempt to increase control over tax havens is a step in the right direction.
He argued that it is hypocritical to move against a country like Panama when other European countries — such as The Netherlands with Aruba or Denmark with Greenland — seek similar economic freedom without investigation.
Raisbeck also questioned the assumption that everything Panama is doing is illegal and is in need of fixing.
“Not everything that goes on in Panama with offshore companies is illegal,” he said. “It’s certainly illegal if you have Putin’s cronies stealing money in Russia and funneling it off to a tax haven. But most … of the activity is legal. And most of what happens is legal and there are perfectly valid reasons for people to use a country like Panama and it’s financial services.”
Source: BBC World Service