Panama Papers blowback rocks world capitals

(Worthy News) – A world of blowback descended on capitals from Moscow and Riyadh to Washington and Reykjavik Monday a day after the publication of the so-called “Panama Papers” exposed the offshore and potentially illegal financial dealings of dozens of wealthy, famous and powerful people around the world.

Prosecutors in several European nations, including France and Spain, announced the opening of formal legal probes, and the Obama administration said the global expose orchestrated by a Washington-based investigative group underscored the need for greater transparency in the global financial system.

But the effects were still sinking in around the globe, including in the United Kingdom, where Prime Minister David Cameron, who hosts a global summit on financial corruption next month, came under fire amid questions about the extent to which his late father may have avoided paying British taxes for three decades. [ Source ]

The story behind the massive Panama Papers leak – USA Today

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