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S U B S C R I B E
Monday, 10 September, 2012
Should Swiss just accept banking secrecy?
Is it time for Switzerland to give up its contentious banking secrecy? For the Swiss government, for the time being surrendering it is out of the question. But many think it is only a matter of time before it disappears. Talking on French-speaking TV a few days ago, Philipp Hildebrand, former chief of the Swiss National Bank, said he sees it happening within five to 10 years—and he is not alone. Liechtenstein’s prime minister also declared last week that striking tax deals with European countries to preserve banking secrecy may just not be worth the effort. So are the defenders of Swiss banking secrecy starting to feel cornered? WRS’s Pete Forster talk to Christian Lüscher, vice-president of the Swiss Liberal party and a firm supporter of banking secrecy:
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