It's vital Europe takes up the leadership in the fight against tax evasion, Nobel Prize-winning economist Joseph E. Stiglitz told Parliament's inquiry committee investigating the Panama papers on 16 November. Stiglitz, who served as an advisor to the Panama government following the revelations, said the US was unlikely to be effective in tackling the issue: "When your [future] president is evader-in-chief, it's hard to have confidence in where we are going to go."
Appearing before Parliament's Panama papers committee Stiglitz reminded MEPs that the law firm from where the leaks came - Mossack Fonseca - was only one of the four major law firms in Panama. "It's even viewed as one of the smaller of the four law firms. So you can imagine what's going on in these secrecy havens."