Swiss fortress starved
Switzerland agreed to unveil the secrecy of banking customers. To break the Swiss stubbornness regarding the inviolability of account holders was obtained from the US tax office. It is assumed that only suspicious persons will be affected, but how it will be in practice is a big question. One thing is clear – the reputation of Swiss banks will be undermined.
Water sharpens a stone. The success of the U.S. Internal Revenue Service more than proved the truth of this saying, and its employees insistently demanded that Switzerland disclose the details of customers of local banks whose activities in the homeland raise serious suspicions. As a result, a draft law was prepared in Switzerland that allows banks to open information on US citizens who hold accounts in a Western European country, as well as on third parties connected with them by financial relations. Continue reading