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News Link • Economy - International

Europe pushes Switzerland to end bank secrecy

• Reuters

European Union finance ministers gave the green light on Tuesday to start talks with Switzerland and Liechtenstein about surrendering bank data, as Europe stepped up its fight against tax evasion.

The move, described as 'historic' by Germany's Finance Minister Wolfgang Schaeuble, redoubles pressure on Switzerland to open up account details and will likely pave the way for Austria to ditch its own bank secrecy for foreigners.

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