Europe’s Welfare State at Risk
European Central Bank President Christine Lagarde has warned that Europe’s bolstering welfare state is at risk due to its declining economic environment. Lagarde said the EU “will not be able [...]
HSBC is altering its oversight of safe-deposit boxes in Hong Kong. Governments are targeting safe-deposit boxes to look for cash that is hiding from taxation. HSBC, a U.K. bank, is now moving against claimed financial crimes by altering conditions for safe-deposit boxes. This is becoming a global trend. Anything of value that is stored in a safe-deposit box is now considered money laundering. Governments want their taxes and all the laws are changing to ensure they get their money.