Nobel Prize-winning economist Professor Joseph Stiglitz, who as the former advisor to the Panama government spoke before a special inquiry committee set up by the European Parliament on the “Panama papers”. The renowned US economist called for “zero tolerance” against secret tax structures and that Europe should lead the way in achieving transparency in the global financial system. “These secrecy havens are not just offshore. We sometimes talk about the Panama Papers in Panama but they’re also onshore. They’re in Europe, they’re in the United States”, he stressed. He went on to say that he hoped that there would be greater resolve for dealing with the problem.