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Panama Papers: Europe's biggest five economies agree tax crackdown

  • A new crackdown on international tax dodging agreed by the top five economies of Europe has been welcomed by the leading financial institutions. According to media reports, tax and law enforcement of the five leading European economies – Germany, the United Kingdom, Spain, France and Italy – have agreed to share the data. Christine Lagarde, the chief of the International Monetary Fund, commented that this development has added to the momentum that is building against those who have tried to conceal their assets and income.