Switzerland to Allow Its Banks to Sidestep Secrecy Laws

Switzerland to Allow Its Banks to Sidestep Secrecy Laws-newyorktimes: The Swiss government said on Wednesday that it would let its banks sidestep the country’s secrecy laws to disclose names of clients in a move intended to help resolve a long-running dispute with the United States over tax evasion. The decision is a turning point in what has been an escalating conflict between the two countries. Switzerland’s finance minister said the move would probably enable Swiss banks to accept an offer by the United States government to hand over client details in exchange for a promise against future legal repercussions.