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Switzerland, the world's largest offshore financial centre, has agreed to accept concessions on bank secrecy.Switzerland's announcement comes after it had risked being added to a global blacklist of uncooperative tax havens.
It is estimated that Switzerland's banks hold $2 trillion (£1.4tn) of global wealth held abroad.
Mind from this
Quote:
However, while it will now abide by international rules on bank data sharing, it said it would only respond to "concrete and justified" requests.
The government added that it would still protect banking customers from "unjustified watching from abroad".
I'm not sure just how far GB's claim.
Quote:
UK Prime Minister Gordon Brown said the changes were "the beginning of the end of tax havens".
Will hold water..
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