Well who would have guessed that N.Z is implicated as a Tax Haven and destination for secret trusts.
 As Result of these leaks rioting has already begun in Iceland. Will likely happen in other places as well.
Top world leaders are implicated. As is David Camerons father.
So are these leaks good or bad. What are the longer term implications on Global finance.
One big plus for N.Z being implicated is we are a Clean green ,sustainable ,tax haven.
While this dominates global media it has gone very quiet ,very quickly in N.Z

certainly ant going to get much bigger than this one,
more paper leaked than we could ever use to wipe our bums in multi lifetimes.

Interestingly enough, the more interesting revelation to my mind is not that NZ has these loopholes for foreign interests to exploit, we are very small beer to everyone but us of course, but the amount of Chinese businessmen and politicians etc that have money squirrelled away in these places....and the way the Chinese govt has heavily suppressed the whole story in their media to hush it all up!

It'll be interesting to see just how many Russian leaders will be involved in such schemes too. Just coz Cameron's father had money in tax havens is one thing, but I wouldn't mind betting there will be some pretty healthy accounts linked to a mr v Putin for example, lol.
I am not sure what the big deal is though with this....I don't think these offshore trusts etc are actually illegal are they? And such tax havens around the world have been going for...,well, generations. Swiss bank accounts, businesses etc listed in the Channel Islands, none are illegal surely?
Great ammunition for the righteous of course....but a big deal? Meh.
Edit.... I think this is different from money embezzled from govts by corrupt pollies and bureaucrats however. People using such means to hide their own legitimate wealth is one thing, but Presidents-for-life who rip off billions from their countries coffers are a different kettle of fish I think. How much had Gaddafi squirrelled away? If these papers can reveal some of that stuff, well then, bring it on!

Captain, its called tax-dodging. It's illegal to dodge tax. Its quite simple.

None of this is nationals fault. Just read it. Revenue minister & finance minister blame Labour ,NZF, greens for any damage done to our reputation . Deny a problem exists ,blame labour.
How did we ever get to this. Auckland housing crisis -laundered money. Thats why eventually IRD woke up and insisted on Tax numbers.
So ,strongest house inflation on the planet. Polluted waterways ,depleted fisheries,collapsed dairy industry, massive and growing debt, Panama Papers ,and Brand Key remains intact. Remarkable.
 Now traveling at 200kph,Govt still asleep at the wheel,sharp bends ahead. Will they wake up in time.

well it would be great if National and Labour headed to the field rather than we vote for either

but seriously just think if people payed their share in PAYE would the countries they should be paying be better off,

NZ would be far better off that is for sure,
and tell me way should they dodge their duty to pay?
if you have that much money how much more do they seriously need, when you die its gone no more for you, hope they all go to hell and get their ass burnt off.

Lets be clear here Cirrus, prior to the GFC (2008) there was never any "government guarantee" for funds in any of the trading banks.

Sorry got tangled in the detail (who me?) and forgot the point!

cirrus wrote: But that also takes any responsibility from banks to lend in a sensible manner. No longer the banks problem but instead the depositors problem.