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There has been another breakthrough in the drive to introduce automatic exchange of banking data. Following in the footsteps of Switzerland and Luxembourg, Liechtenstein has indicated that banking secrecy will no longer be a taboo subject. As Volksblatt points out —
In Liechtenstein too, politicians and the world of finance are no longer insisting that they will categorically refuse to exchange certain kinds of data […] even if this is not the solution they would like to see implemented.
In the words of Liechtenstein’s head of government, Adrian Hasler —
… although Liechtenstein is critical of the automatic exchange of data, [the principality] does not want to rule out possible solutions, provided that they are based on solid bilateral treaties.
