A storm passes
Article Abstract:
The United Kingdom report on offshore financial centers by Andrew Edwards has been well-received in Jersey, which relies heavily on the industry. The islands of Guernsey, Jersey, and the Isle of Man enjoy autonomy in domestic affairs, and are British dependencies rather than part of the UK. They have set low taxes, which has helped the development of their financial services industries. The report praises the regulation of the industry in these centers and for cooperation in areas such as money laundering.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1998
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Brazil on the slide
Article Abstract:
The effective devaluation of the Brazilian real has followed a debt moratorium by the state of Minas Gerais on payments made to central government. Brazil's central bank governor has resigned, and Brazilian government bond yields have risen. These events have hit world financial markets, though the impact is lessened by a lower exposure of banks to Brazil than was previously the case.
Publication Name: The Economist (UK)
Subject: Business, international
ISSN: 0013-0613
Year: 1999
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