Germany Tackles Lack Of Cooperation By Swiss Banks, Government On Taxation Issues

Berlin, Germany (AHN) - Germany has revived its battle against tax havens as it proposed placing Switzerland on a blacklist.

Earlier this year, Germany waged a similar war against Liechtenstein after Berlin bought a CD from a disgruntled Liechtenstein bank employee containing information about German millionaires who parked their money in Vaduz because of its tax free benefits.

German Finance Minister Peer Steinbrueck charged that Switzerland had refused to cooperation on taxation issues. Switzerland, Austria and Luxembourg did not show up at a meeting of the Organization for Economic Cooperation and Development held Tuesday in Paris where the problem of tax havens was discussed.

The French government estimates $40 to 53 billion (30 to 40 billion euro) is lost yearly from its national budget because of offshore tax havens offered by some European nations.

At the height of the verbal battle between Crown Prince Alois of the tiny European principality and German Chancellor Angela Merkel, Alois blinked as he stated, "I have no interest in a further ping-pong game of press conferences between Vaduz and Berlin."

Michael Lauber, chief executive of the Liechtenstein Bankers Association added, quoted by the International Herald Tribune, "The label tax haven is not something we sought or gave ourselves... It is something that came from the German tax investigation.'