• Switzerland edition
 
EU envious of US Swiss secrecy success
Päivi Tiittanen (File)

EU envious of US Swiss secrecy success

Published: 02 Feb 2012 12:40 GMT+01:00
Updated: 02 Feb 2012 10:15 GMT+01:00

The EU has been watching the success of the US attacks on Swiss banking secrecy with envy and hopes now to make progress on its own tax deal with Switzerland.

Inspired by the Americans’ achievement, the Danish EU Presidency has said it is putting an EU tax agreement with Switzerland back on the agenda when EU finance ministers meet on February 21st, newspaper Tages Anzeiger reports.

The EU Commission has long wanted to close taxation loopholes with Switzerland and enter into new bilateral agreements for mutual assistance.

“Switzerland’s European partners should be treated as well as or better than the United States," the EU Danish Presidency said.

A deal with Switzerland at the European level could end up replacing separate Swiss bilateral agreements currently under negotiation with Germany and the United Kingdom. The Swiss announcement of the British and German negotiations divided opinion in Europe over how to tackle Switzerland’s stance on banking secrecy.

But many in Germany have not been pleased with the deal struck with Switzerland, believing that its terms do not go far enough.

"We naturally ask ourselves why the United States achieves more with its threats than we do," Lothar Binding, German Social Democrat and finance expert told Tages Anzeiger. “We feel badly treated by Switzerland,” he said.

See also:

Credit Suisse hands US millions of emails: report

Oldest Swiss bank sold amid US tax dispute

US offers Switzerland tax row deal: report

Lyssandra Sears (news@thelocal.ch)

Don't miss...X
Left Right

Your comments about this article

Today's headlines
Japan Novartis unit failed to report 'drug deaths'
Photo: Sebastien Bozon/AFP

Japan Novartis unit failed to report 'drug deaths'

The Japanese unit of Swiss pharma giant Novartis has admitted it did not report more than 2,500 cases of serious side effects in patients using its leukaemia and other cancer drugs, reportedly including some fatalities. READ  

Swiss health insurance premiums 'set to jump'
Federal Health Minister Alain Berset: set to release official figures later this month. Photo: Federal Assembly

Swiss health insurance premiums 'set to jump'

Swiss health insurance premiums are set to rise steeply overall next year, according to figures revealed by a Sunday newspaper. READ  

Presented by St Bernard Assure Limited
Car insurance made easy online with St Bernard
Photo: St Bernard Assure Limited

Car insurance made easy online with St Bernard

A new car insurance firm has ripped up the rule book when it comes to selling policies in Switzerland, by cutting out the middle-man and passing the savings onto their customers with its online only model. The Local finds out more. READ  

Bencic and Federer give Swiss double boost
Switzerland's Bencic celebrates at US Open. Photo: Mike Stobe/Getty Images North America/AFP

Bencic and Federer give Swiss double boost

Seventeen-year-old Belinda Bencic on Sunday became the youngest women's quarterfinalist at the US Open since 1997, giving Switzerland a double boost after Roger Federer moved into the last 16. READ  

Air show draws large crowds to Payerne
Patrouille Suisse in action. Photo: Matthias Kabel

Air show draws large crowds to Payerne

An estimated 160,000 people turned out for the opening weekend of Switzerland’s biggest air show at the Payerne military aerodrome in the canton of Vaud. READ  

Bolivian bus crash claims three Swiss lives
Route in the Uyuni region of Bolivia. Photo: Hermes Images/AFP

Bolivian bus crash claims three Swiss lives

A bus accident in Bolivia over the weekend claimed the lives of three Swiss citizens and at least six other people, according to press reports. READ  

Novartis heart drug billed 'blockbuster' after tests
Photo: Sebastien Bozon/AFP

Novartis heart drug billed 'blockbuster' after tests

An experimental drug from Swiss pharma giant Novartis reduced deaths from chronic heart failure by 20 percent compared with an existing treatment, according to the results of a vast new study. READ  

Kavcics's injury gives  Wawrinka US Open break
Wawrinka eases into fourth round. Photo: Don Emmert/AFP

Kavcics's injury gives Wawrinka US Open break

Switzerland's Stan Wawrinka reached the fourth round of the US Open tennis tournament by walkover on Saturday when Slovenian Blaz Kavcic withdrew from their third-round match with a right foot injury. READ  

Swiss baby dies after being left in parked car

Swiss baby dies after being left in parked car

A 16-month-old baby died in the canton of Neuchâtel after being forgotten by one of its parents who left the child behind in a company car park, a Swiss prosecutor said on Friday. READ  

Petkovic selects squad ahead of England game
Switzerland's Bosnian coach Vladimir Petkovic reveals his squad during a press conference. Photo: Fabrice Coffrini/AFP

Petkovic selects squad ahead of England game

Switzerland manager Vladimir Petkovic on Friday brought Olympiakos midfielder Pajtim Kasami back into the football team and called up three new faces for their opening Euro 2016 qualifier against England. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Sponsored Article
Car insurance made easy online with St Bernard
National
Swiss residents pick Swedes as ideal European soul mates: survey
National
Zurich officials call project to move prostitutes to 'sex boxes' a success
National
Swiss gays recognized as parents of child born to surrogate mother
Health
Increase in mountain bike accidents keeps Swiss hospitals busy
National
Swiss policeman belatedly honoured for saving Jews from Holocaust
National
'Suicide tourists' to Switzerland double in three years: study
National
Swiss Post SMS scheme gets stamp of approval after pilot project
Business & Money
American tax evasion crackdown hits Swiss private banks' bottom line
Politics
Woman accuses Swiss politician in nude selfies scandal of lying
National
Villagers in Graubünden valley reject hydro plant to protect vultures
Business & Money
Court rules against appellation for absinthe from Neuchâtel valley
National
Two hundred passengers rescued after landslide derails Swiss train
Travel
Switzerland remains world champion for per capita train travel
Culture
Social media backlash forces Polanski to bow out of Locarno film festival
National
Two policemen identified among three Israelis killed in train crash
Features
Untouched Alps: The Local explores Switzerland's only national park
National
Swiss government secretary tweets nude ‘selfies’ taken at work
International
Swiss couples fined in Ibiza for making love in van without seatbelts
National
Schumacher medical record theft suspect hangs himself in Zurich cell
National
Thousands of motorists drive without permits in Switzerland: report
National
Switzerland celebrates the centennial of national park in Graubünden
National
Animal rights group protests over dead fish throwing at festival
National
Federer forced to tear down kids' play area at Graubünden holiday home
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

1,985
jobs available