Swiss banks fear withdrawals of “hundreds of billions” because of new taxes

Tuesday, September 18th 2012 - 21:52 UTC

Full article 3 comments

UBS expects Swiss banks to see European clients withdraw “hundreds of billions of francs” as a result of steps to stop foreigners using secret accounts to evade taxes, warned Juerg Zeltner, head of UBS wealth management. Read full article

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vestias
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Sep 19th, 2012 - 10:33 am - Link - Report abuse 0
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British_Kirchnerist
Well if the other tax havens were closed there would be no withdrawals as the crooks would have nowhere to go, maybe the Swiss banks should concentrate on that...
Sep 19th, 2012 - 01:26 pm - Link - Report abuse 0
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ChrisR
@2 B_S_K

For the super wealthy there are ALWAYS ways around tax laws and the people who hold their money in Switzerland are not shrinking violets.
Sep 19th, 2012 - 08:22 pm - Link - Report abuse 0
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