Quote:
Originally Posted by scoundrel
I am doubtful that EU vigilance will have any effect on off-shore banking in a territory which is outside the EU. I do not expect off-shore banking to disappear in Switzerland or Lichtenstein, or even Monaco and Andorra and Sam Marino. Not to mention Luxembourg
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It won't disappear, but off-shore banking is mainly about criminal activity, such as tax evasion & money-laundering. It's off-shore because they want to hide their identities
It took a long time, but the US has imposed its laws on Switzerland to a big extent. On Austria too. Whistleblowers spook the others. If the EU is onside, it can only help
I'd like to see a big hit on the Caymans, and other such crime centers. Do you think such hits are not planned already?