‘Tax row: solution found with US’

Published on 29 August 2013 at 08:58

Cover

“Switzerland and the United States have finally reached agreement,” announces Le Temps, in the wake of the green light given by the Federal Council to the solution proposed by Washington to enable Swiss banks to comply with US tax regulations.
The daily explains that —

The conditions that will have to be fulfilled by Swiss financial institutions, and in particular, the amount of fines they will have to pay will not be disclosed pending the imminent signature of a joint declaration by the two countries.
With regard to the response in the banking industry, Le Temps remarks that —
… the prospect of fines that will target certain banks has spoiled the sense of relief that might otherwise have been prompted by the outline of a solution to put an end to more than two years of tensions between the two countries.

Subscribe to the Voxeurop newsletter in English

Was this article useful? If so we are delighted! It is freely available because we believe that the right to free and independent information is essential for democracy. But this right is not guaranteed forever, and independence comes at a cost. We need your support in order to continue publishing independent, multilingual news for all Europeans. Discover our membership offers and their exclusive benefits and become a member of our community now!

Are you a news organisation, a business, an association or a foundation? Check out our bespoke editorial and translation services.

Support independent European journalism

European democracy needs independent media. Join our community!

On the same topic