UBS case: Switzerland outlines its position
Switzerland's official position on the UBS case has been published this morning on the official website. It seems to be playing hardball. As Switzerland says:
"In its brief, the federal government explains its legal position on the case and emphasizes that Switzerland's legal system, and thus its sovereignty, must be respected."
UBS has been taking a robust approach too, telling a US Federal court in Miami that matters should be resolved via talks between Bern and Washington. As the FT reports:
"UBS defended itself on Thursday against attempts by the US Internal Revenue Service to extract names of thousands of American customers holding offshore accounts, telling a federal court. . .In a 50-page submission to the federal court in Southern Florida, UBS presented itself as the victim of a broader dispute over bank secrecy between the US and Switzerland."
The document filed with the court in Miami is here.
Richard Murphy provides his analysis here.
"In its brief, the federal government explains its legal position on the case and emphasizes that Switzerland's legal system, and thus its sovereignty, must be respected."
UBS has been taking a robust approach too, telling a US Federal court in Miami that matters should be resolved via talks between Bern and Washington. As the FT reports:
"UBS defended itself on Thursday against attempts by the US Internal Revenue Service to extract names of thousands of American customers holding offshore accounts, telling a federal court. . .In a 50-page submission to the federal court in Southern Florida, UBS presented itself as the victim of a broader dispute over bank secrecy between the US and Switzerland."
The document filed with the court in Miami is here.
Richard Murphy provides his analysis here.
posted by TJN at 3:28 am
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