The big story this week is, of course, the Panama Papers. More than eleven million documents showing how the rich and powerful (or, to be precise, up to now, mostly the rich and powerful from non-western countries) have hidden their assets in offshore companies to avoid taxes, sanctions, and simply to distance themselves from shady businesses. The problem, however, is of course that, although shady, dishonest, and, if you're feeling patriotic, disloyal, most of those actions where still more or less legal. But the politicians of the west where taking action fast.
While still ahead, big speeches were made, new laws were enacted, and tax reform swept through the western world like a storm. Regimes which were (publicly) implicated in the leak were condemned, new sanctions where implemented, and the metaphorical rug rose a few inches. Because after all, the best way to avoid being caught is to make the rules yourself.
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