Tax Haven curtail Our Economy

The recent outbreak of HSBC employees stealing few Swiss banks customer data and passing this on to the French and German Tax authorities has come like a nail in the coffin to the Switzerland. A country depends on around $2 Trillion in Offshore banking sector after amending its bank secrecy laws way back in 1934. So these caper's would have wide repercussions across the globe thereby putting pressure on the Swiss to relax its laws to reveal the tax dodgers.

What's interesting to watch out now is how would French, German and Spanish tax authorities would approach Swiss Govt with the illegal data they received. I am sure, Swiss would never compromise its privacy of its customers and the cogent approval given to US this Aug 2010 is a positive step in this regard. At-least the UPA should make efforts to bring the estimated $20 Billions back to the country. This can reduce the fiscal deficit to large extent! I would support Advani for throwing some light on this during his campaign although i don't see any merit in his candidacy. Well the country needs to expose these law abiding citizens and use the funds for socio-development projects!!!