‘Banking secrecy at death’s door’

Published on 15 April 2013 at 11:10

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“There is no future for banking secrecy in the EU,” remarks the daily, in the wake of the meeting of EU and Eurozone finance ministers on April 12 and 13.
Nine countries (Germany, France, the United Kingdom, Italy, Spain, Poland, Belgium, the Netherlands and Romania) have announced a pilot project to ensure greater transparency in Europe’s banking system. At the same time, European Council President Herman Van Rompuy has decided to include tax evasion on the agenda for the European Council summit on May 22 and 23.
With regard to Luxembourg and Austria, which have threatened to veto an agreement on the issue, European Commissioner for Taxation Algirdas Šemeta is awaiting the outcome of decisions to be taken in the coming weeks.

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