«It’s The Bank Secrecy Law, Stupid!»

Posted on February 7, 2010 | by Markus Stocker

The German Finance Minister Wolfgang Schäuble has spoken: “Switzerland’s bank secrecy law has no place in the 21st century.” For starters, what in Switzerland in German is called Bankkundengeheimnis — bank client confidentiality– is the safeguard of financial privacy, not the secrecy of the bank, as I argued almost a year ago. I’m sure Mr. Schäuble [...]

 

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