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Swiss Banks Helping Tax Evaders, Gabriel Tells Deutschlandfunk

Aug. 12 (Bloomberg) -- Sigmar Gabriel, the chairman of Germany’s main opposition Social Democratic Party, said Swiss banks are involved in “organized crime” that fosters tax evasion, according to an interview with Deutschlandfunk radio station.

An agreement between Switzerland and Germany is “full of holes” and allows tax evaders to pre-emptively put their funds out of reach of authorities, Gabriel said, according to a transcript of the interview on the German station’s website.

To contact the reporter on this story: Cornelius Rahn in Frankfurt at crahn2@bloomberg.net

To contact the editor responsible for this story: Kenneth Wong at kwong11@bloomberg.net

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