Background to the Economic Crisis

Background to the Economic Crisis 

Many of the roots of the current global economic crisis trace back to offshore financial centres located in tax havens. These include both those located in the smaller, mostly island states like Cayman and Jersey, and the larger tax havens like the City of London, Switzerland, Dublin, Delaware or Luxembourg. 

 These tax havens did not "cause" the crisis, but they contributed powerfully to it. This happened in  a number of interlinked ways: