Jacques de Watteville was taken by surprise at the speed at which the automatic exchange of information became the new international norm (Reuters)
Switzerland, along with around 100 other countries, will put an end to its treasured practice of banking secrecy when the treaty on automatic exchange of information between tax authorities comes into force in 2018.
The country is hoping that being proactive in the implementation of the new rules will both shield it from new attacks and enable it to help shape the laws into something it finds palatable.
But decades of shady banking practices and the country’s initial reluctance to end banking secrecy after the 2009 financial crisis have left their mark on the country’s reputation. It is not always easy to convince others of Switzerland’s good intentions, says Jacques de Watteville, State Secretary for International Financial Matters, and the man in charge of Swiss efforts in the area. " Continues.
Notably this provides PLENTY of TIME, for U.G.L.E. to have got it's WORLD WAR up and running; a whole THREE YEARS of SLAUGHTER PROFITS; for you should by now know WHICH town in SWITZERLAND's banks; the NAME of the TOWN, with ALL the U.G.L.E. HOLOCAUST PROFITS in, we published a WEEK or MOR ago:
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