Swiss banks accused over tax evasion

[alp227]

Source: Financial Times

The head of Germany’s biggest opposition party has accused Swiss banks of “organised criminality” for helping rich Germans evade taxes, and suggested that Germany should threaten the banks with criminal proceedings.

The salvo follows calls from other members of the Social Democratic party (SPD) to scrap the tax deal struck between Germany and Switzerland last August, and marks a significant escalation of the political battle over its future.

“It’s a serious crime. We are talking here about organised criminality in Swiss banks in Germany,” said Sigmar Gabriel, the Social Democrats’ national chairman, in a radio interview, adding that Germany should task a special prosecutor with combating tax evasion.

A year ago it looked as if Switzerland had pulled off the unlikely coup of stilling German discontent over its tax haven status, while preserving its hallowed bank secrecy laws.

Read more: http://liveweb.archive.org/http://www.ft.com/cms/s/0/891d5eea-e222-11e1-8e9d-00144feab49a.html?ft

[hedgehog]

1. This is a big f***ing thing!

[Cali_Democrat]

2. Hiding money in Swiss bank accounts to avoid taxes is and should be considered a serious crime.

Romney and his ilk should be prosecuted.