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Swiss halt deal with U.S. that IDs Americans with secret UBS bank accounts
Posted By admin On January 28, 2010 @ 12:57 pm In World News | Comments Disabled
David S. Hilzenrath
Washington Post 
Thursday, January 28, 2010
Americans who hid money from the Internal Revenue Service in secret Swiss bank accounts may escape exposure, at least for now.
An agreement between the U.S. and Swiss governments  that was supposed to blow the cover on 4,450 accounts at Switzerland’s largest bank is in danger of collapse.
(ARTICLE CONTINUES BELOW)
The Swiss government said Wednesday that it has suspended the disclosure of information to the United States under the agreement and may seek to renegotiate the deal.
The announcement came days after a Swiss court ruled that it would be illegal for Switzerland to comply with the August accord. The court essentially declared that long-standing secrecy protections trumped the agreement. The decision came in a test case involving a UBS account holder who was fighting to stay in the shadows.
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URL to article: http://www.prisonplanet.com/swiss-halt-deal-with-u-s-that-ids-americans-with-secret-ubs-bank-accounts.html
URLs in this post:
 Washington Post: http://www.washingtonpost.com/wp-dyn/content/article/2010/01/27/AR2010012703556.html
 agreement between the U.S. and Swiss governments: http://www.washingtonpost.com/wp-dyn/content/article/2009/08/19/AR2009081901395.html
 Image: http://www.prisonplanet.tv
 Swiss to supply bank information to U.S.: report: http://www.prisonplanet.com/swiss-to-supply-bank-information-to-u-s-report.html
 UBS to name 5,000 accounts under U.S. deal: paper: http://www.prisonplanet.com/ubs-to-name-5000-accounts-under-u-s-deal-paper.html
 Swiss warn UBS bank could collapse: http://www.prisonplanet.com/swiss-warn-ubs-bank-could-collapse.html
 Swiss Bank: The U.S. Overestimates its Attraction as a Financial Center; Advising its Clients to Get Out of All U.S. Securities: http://www.prisonplanet.com/swiss-bank-the-u-s-overestimates-its-attraction-as-a-financial-center-advising-its-clients-to-get-out-of-all-u-s-securities.html
 Swiss Franc Collapses 7% Against the USD, EUR and Gold – Swiss National Bank to Fix CHF to EUR and Debase Currency: http://www.prisonplanet.com/swiss-franc-collapses-7-against-the-usd-eur-and-gold-%e2%80%93-swiss-national-bank-to-fix-chf-to-eur-and-debase-currency.html
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