Gibraltar minister criticises 'flawed' EU Savings Directive

Gibraltar's finance minister has launched a devastating attack on the European Union (EU) Savings Directive, saying the compromised and flawed law will achieve the opposite of what it set out to. Keith Azopardi, who is both finance minister and deputy chief minister, made his comments as Gibraltar joined the majority of British offshore financial centres in preferring to impose a withholding tax on depositors, rather than publicise tax information about them. However, while Jersey, Guernsey and the Isle of Man have the autonomy to take this route, and Bermuda, the Cayman Islands and...