We all know things are bad but those of us who have been saying things are really really really bad stand vindicated. Unusually when things are bad governments start blaming each other. It’s the Yanks, it’s the Chinese, it’s the French and Germans, it’s all of them but it isn’t us, say the politicians.

That is par for the course. When governments of the major powers stop blaming each other and start collaboration to shift blame to someone else you may be sure the world is teetering on the brink of the abyss. And that is what they are doing right now.

Instead of pointing fingers at each other our leaders and finance ministers are chanting, “It’s the tax havens.”

Not content with ganging up against these plucky little micronations who are defiantly shouting, “Come and have a go if you think you’re hard enough, bring your best accountants we don’t care, the big governments are picking out tiny tax havens one by one and ganging up on them. Liechtenstein is the latest to come in for some unwanted attention from the big wide world.

Having been outflanked by Switzerland which agreed to hand over banking details of suspected tax evaders once evidence of the alleged offences had been provided (The Swiss know all the evidence is locked in the vaults of Swiss Banks of course) the taxation authorities have now threatened little Liechtenstein with an embargo on cross border financial transactions unless they stump up details of suspected tax evaders activities. The government of Liechtenstein has agreed providing HM Revenue and Customs and its counterparts send along a representative to collect the files personally.

It would be a bit of a gamble but do you think the Bankers of Liechtenstein are betting there isn’t a tax inspector smart enough to find the country.

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