Switzerland to defy EU tax transparency

Switzerland should reject EU plans for mandatory information exchange on bank accounts, the country's President has said.

His statements comes amid new momentum in the EU to establish a system of automatic exchange of information among its member states and with other countries. In particular, it is anxious to agree a bilateral deal with Switzerland, one of the world's largest tax havens.

Speaking over the weekend to the La Matin Dimanche journal, the Swiss head of state, Ueli Ma...