“Rejecting US threats, the National Council tossed ‘Lex USA’. The big question now is if the US will follow through with its threats of destroying 18 banks, and how many innocent people will be harmed in the process. My best guess is that the US needs to use Switzerland as a scapegoat to scare the world into joining FATCA, since FATCA would otherwise fail. The general view in Switzerland seems to be that if some banks did wrong, then they should be held responsible for their actions without the government being involved, while those in favor of Lex USA generally feared the American blackmail.”
http://isaacbrocksociety.ca/2013/06/19/switzerland-voted-against-joining-ovdi-lex-usa/
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