Sunday, March 15, 2009

Switzerland No Longer Safe

Also see: Whatever Happens in Switzerland Stays in Switzerland

"Switzerland breaks with secret-account tradition" by Associated Press | March 14, 2009

GENEVA - Switzerland's days as a safe haven for the world's tax evaders are numbered.

Under pressure from the United States and other troubled economies, the Swiss government said yesterday it will cooperate in international tax investigations, breaking with a longstanding tradition of protecting wealthy foreigners accused of hiding billions of dollars. Austria and Luxembourg also said they would help.

"Against the background of the financial crisis, international cooperation has grown stronger particularly against tax crimes," said Swiss President Hans-Rudolf Merz, who insisted the secrecy of Swiss banks would remain intact except when countries provide compelling evidence of tax evasion.


WTF you make of that, readers?

Notice how the pro-richer papers aren't screaming the names of these tax cheats?