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From the April 2002 issue of World Press Review (VOL. 49, No. 4)

Viewpoints

Enron's Implosion


Views from the international press

Rotterdam NRC Handelsblad (independent), Feb. 9: Tax paradises, according to the popular image, are either tropical islands with palm trees and beaches, or mountainous countries with ski slopes....The Netherlands, it appears from the investigation of the...Securities and Exchange Commission, figured prominently as a tax paradise for Enron....Enron is not the first or the only firm to discover the tax paradise on the North Sea. Countless multinational companies are officially headquartered in the Netherlands to make use of the vast panoply of exemptions, tax reductions, and deals to be made with the tax authorities.

Sydney The Bulletin (centrist newsmagazine), Jan. 29: Enron...is generating political fallout that promises to change once again the regulatory environment in the United States....In this era of globalization, Australia will be under considerable pressure to follow where Washington leads....Enron has started a reformist bandwagon rolling in Washington. If George W. Bush doesn’t grab the driving seat, he may well be crushed by it. The same, I suspect, will apply to John Howard and/or Peter Costello.
—Max Walsh

Havana Juventud Rebelde (Communist Youth Union), Feb. 10: How far-reaching will the Enron scandal be? Only time will tell, though up until now, its tentacles have spread around the globe. The situation isn’t propitious for the Bush administration, and much less so for millionaire oil baron Vice President Richard Cheney, who seems to be the principal executor of the Texas corporation’s interests. Perhaps Cheney is destined to become the scapegoat, allowing his boss to star as the movie’s “good guy” and to continue to lead the great crusade against terrorism.
—Juana Carrasco Martin

Madrid El Mundo (centrist), Feb. 4: The Enron case, which is making world financial and accounting firms blush, has also brought about intense debates over the need for “business ethics,” a nonexistent matter in the previous triumphal meetings in Davos.
—Julio A. Parrado


 
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