Tag Archives: Sweden

Related Reading: Switzerland, Canada, United Kingdom Top U.S. News & World Report’s 2017 ‘Best Countries’ Rankings

Here’s an annual survey one might consider when selecting an offshore safe deposit box location.

U.S. News & World Report just released its “Best Countries” rankings for 2017. Kevin Drew reported Tuesday morning on the American media company’s website:

Switzerland is viewed as the No. 1 overall country, according to a survey of more than 21,000 people from 36 countries in all regions of the world. People regard the European country highly for its citizenship, being open for business, an environment that encourages entrepreneurship, the quality of life it provides its citizens and for its cultural influence.

Switzerland is one of 20 new countries evaluated this year, as the total number of nations assessed in the survey grew to 80.

Canada finished No. 2 overall and the United Kingdom No. 3, as both did last year. Germany fell from its top spot in 2016 to No. 4 this year, while Japan moved up two positions to No. 5 overall…

(Editor’s note: Bold added for emphasis)

As for the United States? It placed seventh, behind Sweden.

Head on over to the U.S. News & World Report site here to view the entire article and access the overall rankings.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on information found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Consider Country Corruption Perceptions When Selecting Location For Offshore Safe Deposit Box

Over the last year I’ve provided blog readers with some potential resources for determining where to open an overseas safe deposit box.

On February 29, 2016, I pointed out Mercer’s 18th annual Quality of Living Survey.

On March 7, 2016, I identified HSBC Bank’s 8th annual Expat Explorer Survey.

This morning, I’m going to talk about another possible resource with Transparency International’s Corruption Perceptions Index for 2016. From the Facebook page for the Berlin-based international non-governmental organization:

Transparency International (TI) is the global civil society organisation leading the fight against corruption. TI challenges the inevitability of corruption, and offers hope to its victims…

Our best-known tool is the annual Corruption Perceptions Index (CPI), which measures the perceived level of public-sector corruption around the world…

(Editor’s note: Bold added for emphasis)

And from a January 25 press release regarding the 2016 edition of the CPI:

69 per cent of the 176 countries on the Corruption Perceptions Index 2016 scored below 50, on a scale from 0 (perceived to be highly corrupt) to 100 (perceived to be very clean), exposing how massive and pervasive public sector corruption is around the world. This year more countries declined in the index than improved, showing the need for urgent action…

Denmark and New Zealand perform best with scores of 90, closely followed by Finland (89) and Sweden (88). Although no country is free of corruption, the countries at the top share characteristics of open government, press freedom, civil liberties and independent judicial systems…

(Editor’s note: Bold added for emphasis)

Rounding out the “top ten” were:

5. Switzerland
6. Norway
7. Singapore
8. Netherlands
9. Canada
10. 3-way-tie between Germany, Luxembourg, and the United Kingdom

The United States came in at number 18, falling from 16th place a year earlier.

You can view 2016’s Corruption Perceptions Index here on Transparency International’s website.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on information found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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Prosperity Index: ‘Happiest, Richest, Healthiest And Safest Countries In The World’

Back in February and March I blogged about potential resources for selecting a location for opening an offshore safe deposit box.

Here’s another one that I learned about earlier this week via the website of The Sun (UK). From the newspaper:

EVERY year, the global Prosperity Index ranks countries based on how wealthy, healthy and happy they are.

The Legatum Institute, a London-based think tank, is responsible for the rankings, which are based on how well each nation does in 89 separate categories.

These variables include economic measures, as well as scores based on the number of secure internet servers a country has and how well rested people feel on a day-to-day basis.

The Prosperity Index essentially aims to rank how well each country is doing all round, looking at the 142 nations with the most available data…

According to the Institute’s latest edition of the Index, the “Top 10 overall rankings 2015” are as followed:

1. Norway
2. Switzerland
3. Denmark
4. New Zealand
5. Sweden
6. Canada
7. Australia
8. Netherlands
9. Finland
10. Ireland

The United States finished out of the top ten in 11th place.

Head on over to Legatum Institute’s website here to learn more about the 2015 edition of the Prosperity Index and view all the rankings.

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

(Editor’s note: A qualified professional should be consulted prior to making a financial decision based on information found in this weblog. If this recommended course of action is not pursued, then it must be understood that the decision is the reader’s and the reader’s alone. Christopher E. Hill, the creator/Editor of this blog, is not responsible for any personal liability, loss, or risk incurred as a consequence of the use and application, either directly or indirectly, of any information presented on the site.)

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EU Countries Given 2 Months To Have ‘Bail-In’ Process In Place

European Union countries have been “encouraged” to have their ‘bail-in’ process in place by the end of July. Foo Yun Chee reported on the Reuters Canada website on May 28:

The European Commission on Thursday gave France, Italy and nine other EU countries two months to adopt new EU rules on propping up failed banks or face legal action.

The rules, known as the bank recovery and resolution directive (BRRD), seek to shield taxpayers from having to bail out troubled lenders, forcing creditors and shareholders to contribute to the rescue in a process known as “bail-in”

(Editor’s note: Bold added for emphasis)

Bulgaria, the Czech Republic, France, Holland, Italy, Lithuania, Luxembourg, Malta, Poland, Romania, and Sweden are the EU member states that were given notice.

Note the use of the word “creditors” in the piece. Back on July 17, 2014, I blogged:

Elsewhere in Europe, a system for additional wealth confiscation via financial accounts- more “bail-ins”- is being put in place in the event of a banking crisis. Andrea Thomas reported on the MarketWatch website on July 9:Germany’s cabinet Wednesday approved plans to force creditors into propping up struggling banks beginning in 2015, one year earlier than required under European-wide plans that set rules for failing financial institutions.

The new bail-in rules are part of a package of German legislation on the European banking union–an ambitious project to centralize bank supervision in the euro zone and, when banks fail, to organize their rescue or winding-up at a European level.

Germany “leads the way” in Europe by implementing European rules quickly and “creates instruments that allow the winding-down of big systemically relevant institutions without putting the financial stability at risk,” the country’s finance ministry said in its draft bill seen by The Wall Street Journal.

“This ensures that in times of crisis mainly owners and creditors will contribute to solving the crisis, and not taxpayers.”

European finance ministers agreed earlier this year on Europe-wide legislation on bank recovery and resolution, which sets a cascading hierarchy of investors who would be hit when a bank fails. These rules will come into force in 2016…

(Editor’s note: Bold added for emphasis)

From my research on the subject, it is argued that the terms “creditors” and “depositors” are interchangeable. Therefore owners, creditors, and depositors may be “tapped up” to “solve” a future banking crisis.

“It is argued that the terms ‘creditors’ and ‘depositors’ are interchangeable.”

Should that turn out to be the case in a “bail-in,” what will be the fate of contents stored in safe deposit boxes attached to depositor accounts?

By Christopher E. Hill
Offshore Safe Deposit Boxes (www.offshoresafedepositboxes.com)

Source:

Chee, Foo Yun. “EU regulators tell 11 countries to adopt bank bail-in rules.” Reuters Canada. 28 May 2015. (http://ca.reuters.com/article/businessNews/idCAKBN0OD14Z20150528). 18 June 2015.

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