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The Council of States — the upper house of the Swiss parliament — opted to endorse the “Lex USA” banking law by 24 votes to on June 12. The legislation will give Swiss banks that encouraged tax evasion the opportunity to provide information to American authorities without infringing Swiss regulations on banking secrecy.

In its editorial, the daily argues that the vote “will pave the way for the settlement of the tax dispute with the United States,” prompted by allegations that certain Swiss banks helped American taxpayers to avoid fulfilling their obligations.

The law will now have to be passed by the National Council — the lower house of parliament — in a vote scheduled for June 18.