“The abundance of money that was being hidden in Swiss accounts to avoid paying taxes was not publicly discussed in Switzerland until recently. Everyone knew that it existed, but it only became an issue when other countries started running out of money during the debt crisis. Banking secrecy has been under pressure since the end of the Cold War, but it wasn’t until the crisis that the European Union, the OECD and the United States did everything in their power to destroy it.  Banking secrecy was once as unshakeable as the mountains, and together with independence, neutrality and direct democracy, it constituted one of the fundamental elements of the Swiss national myth.”

http://www.spiegel.de/international/europe/switzerland-looks-to-a-future-without-banking-secrecy-a-857662-druck.html

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