“Most FFIs aren’t anxious to go it alone with the IRS. It’s like Little Red Riding Hood negotiating with the Big Bad Wolf over what’s for breakfast.  FFIs have therefore approached their respective governments and asked for help. A growing number of those governments have prostrated themselves before the IRS, offering to collect the information the IRS demands from their country’s banks and giving it to the IRS on a silver platter.  Around 15 countries so far have signed up for this type of agreement with the IRS.  And, believe it or not, that’s the good news for U.S. persons. Here’s why.”

http://www.nestmann.com/finally-some-good-news-about-fatca

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