Heads are beginning to roll thanks to the Panama Papers. Unlike previous scandals, however, the Panama scandal potentially has serious political implications on a world scale. From Iceland to Peru, and from China to Britain: political leaders and the ruling class everywhere are now under serious threat.

We publish here the second part of a draft document by the International Marxist Tendency, which examines the political impacts of the crisis of capitalism, with a focus on the radicalisation taking place in the USA and Britain, and the ever-increasing tensions within the European Union.

In the biggest data leak in history it has been revealed how the global elite make use of 200,000 shell companies created by the Panamanian law firm Mossack Fonseca to secure their money in offshore tax havens. Almost everyone is involved from across the Establishment, the rich and the ruling class, demonstrating the rottenness of the system.