Swiss Banking Industry To Stay Secretive, Liechtenstein Be Damned

Did yesterday’s deal between the U.S. and small, secretive European banking stronghold Liechtenstein to reveal information have you worried that soon the government would have access to your Swiss bank accounts? (We know; we were up all night fretting about it.)

Fortunately, Swiss officials said they were unaffected by the development, indicating that their country could continue to be a haven for tax dodgers.

Wealth Bulletin: 

The Swiss banking association has denied that Liechtenstein’s deal with US on Monday over sharing confidential bank data related to specific cases of tax evasion could pressure Switzerland to take similar measures, according to a Reuters report.

“This is an autonomous decision from Liechtenstein, that does not signal anything for Switzerland,” Thomas Sutter, a spokesman for the lobby group, was quoted as saying by NZZ am Sonntag.

NOW WATCH: Briefing videos

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.