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Swiss mull lawsuit against Germany over bank data

DDP/The Local · 28 Apr 2010, 08:50

Published: 28 Apr 2010 08:50 GMT+02:00

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“The government has not yet decided,” Leuthard told broadcaster Deutschlandfunk ahead of a meeting with German Chancellor Angela Merkel in Berlin.

Some Swiss parliamentarians are demanding legal action, and there are lawyers who say that Germany overstepped and broke international rules when it bought the confidential data.

“We still hope to find a solution with Germany as to how to proceed with this illegal data,” Leuthard said.

Despite the tensions over the bank CD – which has helped Germany rake in hundreds of millions of euros from tax dodgers – the two countries are “very good friends” and neighbours, the Swiss president said.

Story continues below…

A new dual-country tax accord agreed upon by the two countries in late March could be a solution to the problem, she said. According to the agreement Switzerland would provide administrative cooperation according to OECD standards. But the country insisted it would not cooperate in cases of stolen bank data.

DDP/The Local (news@thelocal.de)

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Your comments about this article

11:12 April 28, 2010 by Essertpitay
The gall of the Swiss never ceases to amaze me...The cheek of them, because of their organised and instutionalised money laundering, many "bad people" in the world have had a very good life thanks to Swiss banking.

Swiss neutrality my a--e !!

The E.U. should blockade the whole place, let us see how long they will be able to go it alone !
15:01 April 28, 2010 by MunchingInMuenchen
Sure, blame the Swiss... that's easy, but perhaps the root of the problem is a lot closure to home. A German friend recently received an annual dividend from an investment. The original total income from his investment dividend was 1830 Euros, but after deductions for German taxes, to include cap gains tax, reunification tax, church tax, etc., the total dividend received by my friend was barely 600 Euros -- a nearly 70 percent tax hit on a small investment. No wonder people -- good people -- are seeking out alternative places to save their money! 70 percent tax is criminal. Fix that problem and the Swiss become irrelevant.
15:48 April 28, 2010 by Essertpitay
Exactly !...Let's make the Swiss become irrelevant...but,maybe, not the way you have in mind...
16:53 April 28, 2010 by wmm208
Germany is so jealous of Switzerland. They wish they could be exactly like Switz. Then nobody would come begging for money.
18:30 April 28, 2010 by Legal E
It is the perogative of Switzerland to pursue the case under more formal legal matters. If it was reversed, I am sure Germany would exercise their rights in the international courts. So yes, I think it is correct for the Swiss to consider all legal avenues at their disposal.
19:57 April 28, 2010 by Hebbellover
Essertpitay really? Germans didn't seem to mind when the swiss took gold from melted tooth filings and made bars out of it! SOunds to me like that is the most sinister kind of money laundering there is!
20:15 April 28, 2010 by Pro-Swiss
Take 'em to war Switzerland!!
20:37 April 28, 2010 by wmm208
Better call in the reinforcements at The Vatican. Start bombing the tunnels.
11:39 April 29, 2010 by Essertpitay
Hebbellover : And the Swiss were quite happy to oblige...And has that gold ever been given back ?!? True, the rightful owners are dead, how convenient...
01:14 April 30, 2010 by wmm208
Black gold. Switzerland is one of the most corrupt countries in the world.
22:33 April 30, 2010 by wmm208
World War II was fought over the control of people, whether they lived or died, their philosophical beliefs, and their land. In the end, the Swiss were willing to give up almost everything to not succumb to the National Socialists. Today, the Swiss are in a less stark, but surprisingly similar spot. They are surrounded by another all-encompassing concept: the euro. At first glance this might seem comical, but the German government stands ready to pay very large sums of money to any thief who can produce a list of German account holders at Swiss banks and the Italians are photographing the license plates of all cars crossing into Switzerland to check them against their tax records. Government agents and spies are involved as well. As far as we know there are no deaths in this war, but there are many financial losses, jail terms, and bankruptcies. In the past, the victims were wealthy men and corporations, and the battles had significant moral overtones, but the recent movement toward euro disintegration expands the battlefield, increases the risks astronomically, and will victimize all of western continental Europe, including Switzerland , from the lowliest clerk to the mightiest corporation.

Right now the flood of money attempting to enter Switzerland legally and illegally has caused the euro- Swiss exchange rate to drop from 1.51 in mid-December to 1.4325, where the Swiss National Bank has been the final bid for all euros offered for most of this month. The Swiss added 16 billion euros to their reserves in March and M-2 is growing faster than China ¦#39;s. So much money wants to get in that the Swiss are overwhelmed. It might be money not people, but it bears a clear resemblance to 1940.

Most of the world seems to think that the Americans are the ones who do the crazy things, but it is really the Europeans who commit the colossal blunders. Americans are empiricists ­ they will try anything, but if it doesn¦#39;t work they stop doing it. Europeans are thinkers, philosophers. They theorize and analyze brilliantly creating castles in their minds, turning them over and over to perfect them. The tradition starts with Plato, then Machiavelli, and goes through Karl Marx, Nietzsche, and Pareto, to the creators of the euro. Every philosophy can be discredited. It is only when a concept works in the real world over time and is adjusted to fit changing circumstances ­ like Communism in China ­ that one can be sure of success. All empiricists know that the euro can not work as constructed, but the Euroleaders will destroy their economies, harming the Swiss as well, until they are forced from power.
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