“Jérôme Cahuzac, French budget minister, resigned on Tuesday night following the opening of a judicial inquiry into a secret Swiss bank account allegedly held in his name but which he has repeatedly denied having.  His resignation was announced by the Elysée Palace following weeks of mounting pressure on the Socialist politician. The move by prosecutors to open a full investigation into the Swiss UBS bank account he allegedly used to hide assets from the tax authorities, made Cahuzac’s position untenable and deeply embarrassing for the Socialist government as he was the minister in charge of combating tax avoidance.”

http://dev.thelocal.ch/page/view/french-minister-resigns-over-swiss-bank-account

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