French President Nicolas Sarkozy will renounce his title of co-Prince of Andorra if the territory doesn't change its secretive banking laws. Sarkozy and a Spanish bishop are co-princes of the tiny principality in the Pyrenees - bordered by Spain and France - which is on the Organisation for Economic Cooperation and Development's blacklist of uncooperative financial centres. Sarkozy told his Ump party he was prepared to take drastic action if Andorra's banking practices didn't improve. Minister of Family Affairs Nadine Morano said: "He said he would renounce his title of co-prince of Andorra if all countries that practice these tax haven mechanisms do not behave themselves." The 54-year-old politician is one of a number of heads of state to join...
- 3/27/2009
- Monsters and Critics
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