Sunday, August 2, 2009

Monaco: Perilous Times Ahead

Advice to Monaco: Pray to God

a press release this week announcing that the government, (such as it is), of Monaco has hired a trio of public relations experts "to help the tiny Mediterranean principality shed its image as an international tax haven."

A polling expert, a former journalist and an advertising consultant from the Young and Rubicam agency will devise Monaco's fiscally-virtuous new image. Monaco will spend €500,000 (US$704,000) for research into the make over, including asking a panel of international personalities "What Monaco should be." The image campaign is to be launched in 2010 and last several years, with a budget expected to reach into the millions.

Well, dear readers, Monaco is and has been a "tax haven"-- and no amount of costly public relations campaigns is going to change that fact.

Current international pressures against tax havens are simply another move in the march towards greater dictatorship.

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