TED: The Panama Papers exposed a huge global problem. What's next? | Robert Palmer

The Panama Papers exposed how the rich and powerful hide money in offshore accounts, impacting public services. The leak led to significant political repercussions, including the resignation of Iceland's PM. Global Witness highlights the need for transparency and systemic change to combat tax evasion and corruption. The US lags in addressing these issues, with less coverage and fewer regulations. An undercover investigation by Global Witness revealed systemic problems in law firms aiding suspect fund transfers. The video calls for global action to end secrecy and promote transparency.

What was one of the immediate political consequences of the Panama Papers leak?

• The resignation of the Prime Minister of Iceland

• The election of a new US President

• The collapse of the European Union

• The formation of a new global financial institution

Why should ordinary people be concerned about offshore accounts?

• They increase the cost of luxury goods

• They reduce funds available for public services

• They lead to higher interest rates

• They cause inflation

How does the offshore world resemble a Russian doll?

• It involves layers of companies hiding true ownership

• It is a traditional toy in many cultures

• It is colorful and decorative

• It is simple and easy to understand

What is a significant challenge in understanding the offshore world?

• The simplicity of financial transactions

• The abundance of public information

• The complexity and secrecy of company structures

• The lack of internet access

What was the result of Global Witness's undercover investigation in Manhattan law firms?

• No lawyers were willing to meet

• All but one lawyer provided suggestions

• Only one lawyer provided suggestions

• All lawyers refused to help

What is one of the main goals of Global Witness following the Panama Papers leak?

• To increase the number of offshore accounts

• To promote secrecy in financial transactions

• To push for greater transparency in company ownership

• To reduce taxes for the wealthy

What legislative action is mentioned as lagging in the US?

• Bipartisan legislation for transparency

• A new tax increase

• A reduction in public service funding

• A ban on offshore accounts