Bankers’ change of heart European issue

Now that banking secrecy has come to an end, “Swiss bankers are dreaming of Europe,” says Swiss daily Le Temps

The paper’s leader writer adds that —

Swiss financial markets support any effort to forge closer ties with the EU. This stance, which was unthinkable a few years ago, comes from a fear of losing access to the vast European market.

The “U-turn by Geneva’s bankers,” explains a banker to the paper, began last September with “the announcement of the switch to a system of automatic exchange of information”. The paper concludes that —

The financial market’s greatest hope is that a revival of bilateral talks, as proposed by the Federal Council will be successful.

Read the article at Presseurop here.

Read the original article at Le Temps here.