EU blacklists 17 nations as tax avoidance havens

The European Union has put 17 non-EU countries on a blacklist of those it deems guilty of unfairly offering tax avoidance schemes.

EU vice president Valdis Dombrovskis said after a meeting of the bloc's finance ministers that beyond the 17 nations, over 40 more were put on a "grey list" to be monitored until they are fully committed to reforms.