Bankers Or Us

A leading Swiss banking spokesman says the connections with the United States are OK just weeks after the Internal Revenue Service finished its legal action against Swiss bank UBS AG.

The chief executive officer of the Swiss Bankers Association told Wednesday he’s “very confident that the relations are very good” despite the U.S. action that constrained UBS to unwrap thousands of account holders suspected of cheating on U.S. taxes.

Claude-Alain Margelisch also told the Foreign Press Association in Switzerland that “it was a very great priority” for bankers to have the Swiss government’s approval to put the case in the past.

He said it seems “everybody has done its work in this context” so the Swiss can move beyond a landmark case that saw centuries-old Swiss banking secrecy laws cracked.

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