Ecuador votes to bar politicians from having assets in tax havens

The ‘yes’ vote wins in the first, historic referendum of its kind, writes Alessio Perrone.

Ecuadoreans have voted to bar politicians and civil servants from having assets, companies or capital in tax havens.

With 93 per cent of the votes counted so far, some 55 percent of the people voted ‘Yes’ and 45 percent said ‘No’ on Sunday 19 February, according to preliminary results provided by the National Electoral Council of Ecuador. It is the first referendum of this kind.

‘It’s a very ambitious, radical, and exemplary referendum,’ said Ecuador’s Foreign Affairs Minister Guillaume Long said in an exclusive interview with New Internationalist. He explained that now ‘civil servants will have one year to bring all their assets back to Ecuador, and if they don’t comply with this within one year they will have to step down – including President and Vice-President. This will be enshrined in electoral law.’ Read Article

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