Panama Papers raises London anti-graft summit stakes

IN the wake of the Panama Papers revelations, UK Prime Minister David Cameron is doubling down on his preparations for hosting a potentially landmark anti-corruption summit next month in London. While the Panama disclosures in recent days are financial in nature, they have already had far-reaching political implications, including the resignation of the Icelandic prime minister, and Mr Cameron may now announce a number of significant new measures to increase global tax transparency at the international meeting.

While the Panama Papers episode was described by Russian President Vladimir Putin on April 14 as a US plot to destabilise his country and other key states, it is actually numerous UK territories that are seen by many as being at the heart of the affair. Hence, the reason why the London summit in May -…