I’ve rarely had so much fun when watching news and tv-discussions as during the last two days. Switzerland already has had a bad 2009 and 2010 seems to start even worse.
Germany’s biggest post war tax evasion scandal is centered around…you knew it, didn’t you…a Swiss Bank. So now, why would the Swiss be so touchy about Germans, living in Germany, having committed the offense of tax evasion in Germany, being prosecuted by means of a (admittedly stolen) Data-CD obtained in Germany by German authorities? Because German Tax Authorities are going to buy that stolen CD.
The real reason behind the Swiss upset is not legality, they are using unlawfully obtained data themselves, if there is a higher gain at stake. It’s the estimated € 300 bn sitting in Swiss bank accounts (sorry german link only) a large part of which will maybe be repatriated to Germany. A huge blow to the Swiss Banks.
To be fair many Swiss nowadays know fully well, that the banking secrecy laws of the country are designed mostly to attract wealthy customers and their money, nevermind the tax laws in other countries, and are for abandoning the banking secrecy. Some loudmouths beg to differ. Believe me, it’s interesting to watch.
For the German tax frauds shivering in their shoes about this CD I feel only Schadenfreude. They felt so glib and superior when they told us taxpayers how stupid we were to pay taxes, that I can’t help but wallow in their panic.
This is out Open Thread, so please feel free to comment on this and on what else is on your minds.