Austria Yields to EU Savings-Tax Talks as Bank Secrecy Wobbles
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Austria became the last of the European Union’s 27 members to give up blocking the coordination of savings taxes and talks with non-EU countries, a sign that banking secrecy within the bloc may be over.
The country will “cooperate constructively” in the talks about broader tax cooperation with the countries outside the union, Chancellor Werner Faymann and Vice Chancellor Michael Spindelegger said today in a joint statement published on the website of the Chancellery.