The tiny alpine nation of Switzerland is fighting for its bank-secrecy life as the big bad US breathes down its neck for the names of Americans doing business with the country’s biggest bank (which has massive operations in the US) in offshore accounts to avoid taxation. The Swiss justice minister calls the US attempts an “attack” on Switzerland while the minister calls a French suggestion that Switzerland be blacklisted by the G20 as “not justified”.
Earlier, SNB chairman Roth said the strong Swiss franc was “no gift” for Swiss exporters.
