Swiss Tax Pact With U.S. May Come Soon, Widmer-Schlumpf Says
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Switzerland may reach an agreement with the U.S. about undeclared bank accounts within months, Swiss Finance Minister Eveline Widmer-Schlumpf said.
“We’re hoping that we’ll reach an agreement with the U.S. within the next couple of months,” Widmer-Schlumpf said in an interview in Davos, Switzerland, where she had a meeting with the U.S. Treasury Secretary Timothy Geithner. The fact that Wegelin & Co., a 270-year-old Swiss private bank, was forced to sell itself to Raiffeisen Group because of the U.S. tax investigation highlights the need to find a solution, she said.