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Tinkering around the edges





AT FIRST sight, it was a triumph. After months of negotiations Ukraine and a committee of its creditors (which include Franklin Templeton, an American investment house and BTG Pactual, a Brazilian one) reached a deal this week to restructure the country’s international bonds, as well as a smattering of other sorts of debt, worth about $18 billion.

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EU hypocrites

BLACKLISTS have been a feature of tax diplomacy ever since an internationally co-ordinated assault on tax havens began in the late 1990s. One of the first lists, produced by a global anti-money-laundering body, included, among others, Panama. The Central American country rattled the only sabre it had—its canal—and was promptly taken off the list after some Western governments squealed that their

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