Development Finance Watch - Issue 66

Eurodad Newsletter January 27, 2011 - Issue# 66   European Network on Debt and Development DEVELOPMENT FINANCE WATCH

 

Top Story » Eurodad advocates for country-by-country reporting at the European Commission In November 2010, the European Commission opened a public consultation process to “seek stakeholders’ views on financial reporting on a country-by-country basis by Multinational Companies (MNCs).” In a submission this week, Eurodad and its members called on the EC to put in place country-by-country reporting standards which will ensure greater financial transparency and help put an end to tax evasion and avoidance by MNCs operating in the South.   read more   News » Why the new EIB tax haven policy won’t be effective  Since the financial crisis broke out, the fight against tax havens has become a hot issue. Despite the commitments taken by the different world leaders and the G20, the policies put in place have proven not effective. This will equally be the case for the recently reviewed tax policy of the European Investment Bank (EIB). Although the Bank’s policy goes further than other IFI’s policies it won’t prevent European public money from putting in at tax havens.   read more    News » Conference: Fighting illicit flows from developing countries. What next for the EU agenda?   On 7th and 8th December in Brussels, Eurodad, Eurodad member Centre National de Coopération au Développement (CNCD) and the Task Force on Financial Integrity and Economic Development organised the conference “Fighting illicit flows from developing countries. What next for the EU agenda?”   read more   Report» KEPA report: Development Cooperation Today    Eurodad member KEPA has recently released the English version of their report ‘Development Cooperation Today’.      read more Report» Illicit Financial Flows from Developing Countries: 2000-2009   Global Financial Integrity (GFI) released its annual analysis of the cost of crime, corruption, and trade mispricing on developing countries today. The report, “ Illicit Financial Flows from Developing Countries: 2000-2009,” finds that approximately $6.5 trillion was removed from the developing world from 2000 through 2008.  The report also examines illicit flows from Asia, which produced the largest portion of total outflows and makes projections for 2009.    read more Blog» No school for whistleblowers Swiss whistleblower Rudolf Elmer handed over information to Wikileaks founder Julian Assange, on more than 2000 banking clients believed to be engaged in major tax dodging. TJN's director John Christensen and Senior Adviser Jack Blum, who is also Ruedi's attorney, were there in support and addressed the press conference.   read more

What's New   Issue #66    January 27, 2011 ACTION ALERT  Put a stop to tax havens!  Over 40 000 people have already signed up to say no to tax havens - add your voice! (Website in French). IMF gold sales         Ask the IMF to use any windfall profits from their gold sales for debt cancellation and non-debt creating assistance for Low-Income Countries. Add your signature before 4 February!      NEW EURODAD MEMBERS   ONE is a grassroots advocacy and campaigning organization that fights extreme poverty and preventable disease, particularly in Africa.   The Norwegian Forum for Environment and Development (ForUM) is a think tank and national and international contact point for the coordination of policy initiatives and recommendations.   QUOTE "Europe should be aware that the process of going from fiscal bankruptcy to fiscal surplus has cost the blood of the Latin-American people.” - Carlos Bedoya, Latindadd, explaining the impacts of austerity measures imposed by the IMF FACTS AND FIGURES  The report, “ Illicit Financial Flows from Developing Countries: 2000-2009 ,” finds that approximately $6.5 trillion was removed from the developing world from 2000 through 2008.   IN THE MEDIA  Maria Jose Romero was interviewed by Radio France Internationale on bank secrecy in Switzerland   EURODAD IN ACTION   Recent staff advocacy activities:  Øygunn Brynildsen participated at an international seminar on fair and transparent mechanisms for solving investment and debt disputes in Guayaquil 20-21 January. The seminar was organised by Latindadd and Jubileo 2000 Red Guayaquil.   EVENTS    What: World Social Forum    When: 7-11 February      Where: Dakar, Senegal  What: Workshop “Transforming  the International Financial  System: Sovereign, Democratic  and Responsible Financing” co-  organised by Eurodad as part  of the World Social Forum  When: 8 February, 8.30am  Where: Dakar, Senegal  What: Workshop "Defuse the  debt crisis” on fair and  transparent debt workout co-  organised by Eurodad as part  of the World Social Forum     When: 8 February, 4pm  Where: Dakar, Senegal     VACANCIES                   Oxfam International: Policy   officer, 1 year fixed contract,   Brussels, Belgium   Read the pdf version of this newsletter If you have feedback on articles, suggestions of content for future issues or other thoughts, please write to: assistant@eurodad.org

 

We encourage our readers to circulate this newsletter to interested colleagues. If you have problems downloading from the web and would like to receive mentioned documents as an e-mail attachment, please contact assistant@eurodad.org. Eurodad’s articles are also available for re-use in other publications with reference to the original source.   EURODAD is a non-profit organisation (ASBL/VZW) based in Belgium. For a list of EURODAD member groups across Europe, or to join, see: www.eurodad.org/members

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