Why is it naïve to expect Switzerland to co-operate on black money?  

June 26, 2014

Switzerland is very clear on the secrecy of bank accounts and the best example of this is the Foreign Account Tax Compliant Act (FATCA) agreement signed by the US with Switzerland

Vivek Sharma

For once it looked like that the black money problem of India had been solved, as far as Switzerland is concerned. Couple of days ago, media reports spoke about how the Swiss government had prepared a list of Indians suspected to have stashed black money in Swiss banks. There was also a mention of the details being shared with the Indian government. This news hogged the headlines till a denial came from the Government of India and also from Switzerland. Mr. Arun Jaitley said New Delhi had not received any official communication from Switzerland but was hopeful that cooperation between the two countries would bear results.

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