Albert Einstein once said in a famous quote: “If the facts don’t fit the theory, change the facts”. One of the reasons that this quote is sensible even today is that often facts fall short of the big picture.
Chief Compliance Officer (CCO)
Central bankers from around the world, who met recently in Sweden to discuss the reform of solvency ratios, did not come to an agreement. Behind a highly technical debate is the opposition of two different approaches on risk management, hiding also an economic war between Europeans and Americans.
According to a report by the NGO (non-governmental organization) Oxfam published on March 27, 2017, one quarter of the profits of the 20 largest European banks is in tax havens, €25 billion euros, including €5.5 billion for French banks. This statement has been commented on in numerous financial newspapers and magazines.
According to a report by the NGO (non-governmental organization) Oxfam published on March 27, 2017, one quarter of the profits of the 20 largest European banks is in tax havens, €25 billion euros, including €5.5 billion for French banks. This statement has been commented on in numerous financial newspapers and magazines.