The road to Panama
The 11 million documents leaked from Panama lawyers Mossack Fonseca tell us much that we know already. It’s hardly news that the Central American state is a popular destination for those who dislike paying tax. But to obsess about this aspect of the story, as so many did this week, would be to miss the most striking discovery, which is just how many politicians and government officials have been using Panama to disguise their extraordinary wealth. Few were under any illusions about Vladimir Putin being a good and faithful public servant, yet it comes as a surprise that he appears to have a personal fortune that would have made the tsars look like paupers.