From the ExCel, G20 Leaders Summit London – MP Steven Timms, under-secretary on finance of the UK Treasury, stated a few minutes ago that “the era of banking secrecy is over” and the remarkable process achieved on exchanging information with some tax havens has already been a result of the G20 process.

It is a pity that apparently the era of secrecy around the list of which are the tax havens to name and shame and eventually sanction will not be over today at the G20 summit. As a matter of  fact, the whole negotiation on the issue still spins around who should draft the list – just the OECD? China is not keen. Also which criteria will be used and most importantly by when will this list be finalised?

We are almost back to square one, when a first list of tax havens produced at the end of the last decade finally produced no change.

In the meantime France and Germany claim not to be alone in their action to press for strong measures on tax havens: Brazil is said to be supporting them, and Berlusconi also. He knows tax havens well from his past and current business.

Elsewhere on the blogs Alex Evans on Global Dashboard reports a discussion just now with UK officials. His readout: "A big fight is underway on tax havens. Sarkozy's going in hard for tough language. But China is against as it's worried about the effect on Hong Kong and Macao. Gordon Brown is looking for a compromise. The Czech presidency has been 'unhelpful'".

Richard Murphy, also inside the Excel building, quotes UK junior treasury minister Stephen Timms saying "I'm expecting sanctions, and in due course a listing".