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German blacklist call riles Swiss German blacklist call riles Swiss
(10 minutes later)
The Swiss government has reacted angrily to suggestions by the German finance minister that Switzerland ought to put on a blacklist of tax havens. The Swiss government has reacted angrily to suggestions by the German finance minister that Switzerland ought to be put on a blacklist of tax havens.
During a meeting of European finance ministers in Paris, Peer Steinbrueck said Switzerland was helping German citizens to commit tax evasion.During a meeting of European finance ministers in Paris, Peer Steinbrueck said Switzerland was helping German citizens to commit tax evasion.
He said this was depriving his own government of much-needed cash.He said this was depriving his own government of much-needed cash.
The Swiss foreign minister has summoned Germany's ambassador to Bern to explain his government's stance.The Swiss foreign minister has summoned Germany's ambassador to Bern to explain his government's stance.
SecrecySecrecy
Switzerland knows very well that Germany is unhappy that wealthy German citizens may be saving their money in Switzerland, thus avoiding paying taxes.Switzerland knows very well that Germany is unhappy that wealthy German citizens may be saving their money in Switzerland, thus avoiding paying taxes.
Nevertheless, Peer Steinbrueck's suggestion that Switzerland should be on a blacklist of tax havens has angered the government here.Nevertheless, Peer Steinbrueck's suggestion that Switzerland should be on a blacklist of tax havens has angered the government here.
The Swiss foreign minister expressed her displeasure at the meeting with the German ambassador.The Swiss foreign minister expressed her displeasure at the meeting with the German ambassador.
Meanwhile Urs Roth, head of the Swiss Bankers Association, said Mr Steinbrueck's comments were outrageous.Meanwhile Urs Roth, head of the Swiss Bankers Association, said Mr Steinbrueck's comments were outrageous.
"Switzerland will not be put on a blacklist because these accusations are completely baseless, we have double taxation agreements with more than 60 countries, among them Germany."Switzerland will not be put on a blacklist because these accusations are completely baseless, we have double taxation agreements with more than 60 countries, among them Germany.
"We exchange information with these countries, including information about tax fraud, so we are quite within international norms.""We exchange information with these countries, including information about tax fraud, so we are quite within international norms."
But tax fraud for criminal purposes is one thing, tax evasion is another, and many European Union countries believe Switzerland should be more helpful.But tax fraud for criminal purposes is one thing, tax evasion is another, and many European Union countries believe Switzerland should be more helpful.
During the current financial crisis, governments need every tax euro they can scrape together and the pressure on Swiss banks is sure to grow.During the current financial crisis, governments need every tax euro they can scrape together and the pressure on Swiss banks is sure to grow.
The question is whether they will bow to that pressure. The message up to now has been - no compromise on Switzerland's much-loved banking secrecy.The question is whether they will bow to that pressure. The message up to now has been - no compromise on Switzerland's much-loved banking secrecy.