Following the revelations surrounding tax avoidance schemes in Luxembourg, Tove Maria Ryding, Tax Justice coordinator at the European Network on Debt and Development, said: "This is deeply concerning and shows that international corporate taxation is in a state of crisis. At a point in time when there is a desperate need for public finance, this collapse in corporate taxation requires urgent action from governments to stem this financial hemorrhage. EU Finance Ministers are meeting tomorrow. We need them to put together an ambitious plan which ensures multinational corporations pay their fair share of tax. The unambitious initiatives of the G20 and OECD are clearly not solving the problem."