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Yes, you read that right!
2014/05/21 00:00:00 GMT+2

Yes, you read that right!

The interest of the international media in the signing of the OECD declaration on AEI surprised. Communication must not exclusively focus on topics of national politics.

The opening of the Swiss Banks towards the Automatic Exchange of Information (AEI) has been noticed abroad, too. A meeting of the ministers of the OECD member states in Paris this past May acted as a catalyst. During this meeting, 40 states, among them Switzerland, signed a declaration according to which they agree to exchange information of bank clients in tax matters in the future. Banks as well as the official Swiss bodies knew that Switzerland was to be among the singing states. However, there was a surprisingly broad media response mainly from abroad. After all, the world has known for more than a year that Switzerland supports the AEI in case it becomes an international standard. Or am I mistaken?

From whipping boy to model student?

I, for my part, was surprised when our press office received numerous inquires from international media making us realise that the step to acceptance of the AEI had not at all penetrated to the countries abroad. Especially the Anglo-Saxon and the Chinese media were very interested in learning what the OECD-declaration meant for Switzerland and its bank client-confidentiality. And so I spent the last few days explaining them the developments of the past years and the possible consequences for the Swiss financial centre. Some of the headlines resulting from these conversations : “Switzerland pledges to lift veil on tax secrecy“, (Financial Times, UK), “Swiss banker on tax into transparency“, (CNC, China), “Les banques suisses, meilleures élèves de l’Europe“, (La Libre Belgique, 13 May 2014).

To be convincing abroad

So, what went wrong? Probably, the official Swiss bodies signalised their openness towards the AEI too reluctantly and too conservatively. On a national level, it might make sense to focus more on the conditions than the intent, but as a message to the rest of the world it would have been desirable to express earlier and clearer that Switzerland will not stand apart with regard to the AEI. This change in paradigm not only preoccupies the people in Switzerland, but also concerns our international clients whom we want to remain firm in their trust in our financial centre. If we want to be convincing abroad, we will have to be frank with them too – and we need to keep the gate to the world open, as it was said so pertinently by my colleague Stefan Hoffmann in his recent blog.

The opening of the Swiss Banks towards the Automatic Exchange of Information (AEI) has been noticed abroad, too. A meeting of the ministers of the OECD member states in Paris this past May acted as a catalyst. During this meeting, 40 states, among them Switzerland, signed a declaration according to which they agree to exchange information of bank clients in tax matters in the future. Banks as well as the official Swiss bodies knew that Switzerland was to be among the singing states. However, there was a surprisingly broad media response mainly from abroad. After all, the world has known for more than a year that Switzerland supports the AEI in case it becomes an international standard. Or am I mistaken?

From whipping boy to model student?
I, for my part, was surprised when our press office received numerous inquires from international media making us realise that the step to acceptance of the AEI had not at all penetrated to the countries abroad. Especially the Anglo-Saxon and the Chinese media were very interested in learning what the OECD-declaration meant for Switzerland and its bank client-confidentiality. And so I spent the last few days explaining them the developments of the past years and the possible consequences for the Swiss financial centre. Some of the headlines resulting from these conversations : “Switzerland pledges to lift veil on tax secrecy“, (Financial Times, UK), “Swiss banker on tax into transparency“, (CNC, China), “Les banques suisses, meilleures élèves de l’Europe“, (La Libre Belgique, 13 May 2014).

To be convincing abroad
So, what went wrong? Probably, the official Swiss bodies signalised their openness towards the AEI too reluctantly and too conservatively. On a national level, it might make sense to focus more on the conditions than the intent, but as a message to the rest of the world it would have been desirable to express earlier and clearer that Switzerland will not stand apart with regard to the AEI. This change in paradigm not only preoccupies the people in Switzerland, but also concerns our international clients whom we want to remain firm in their trust in our financial centre. If we want to be convincing abroad, we will have to be frank with them too – and we need to keep the gate to the world open, as it was said so pertinently by my colleague Stefan Hoffmann in his recent blog. - See more at: http://www.swissbanking.org/en/blog-detail-v2.htm?id=171#sthash.uhyduDv5.dpuf
The opening of the Swiss Banks towards the Automatic Exchange of Information (AEI) has been noticed abroad, too. A meeting of the ministers of the OECD member states in Paris this past May acted as a catalyst. During this meeting, 40 states, among them Switzerland, signed a declaration according to which they agree to exchange information of bank clients in tax matters in the future. Banks as well as the official Swiss bodies knew that Switzerland was to be among the singing states. However, there was a surprisingly broad media response mainly from abroad. After all, the world has known for more than a year that Switzerland supports the AEI in case it becomes an international standard. Or am I mistaken?

From whipping boy to model student?
I, for my part, was surprised when our press office received numerous inquires from international media making us realise that the step to acceptance of the AEI had not at all penetrated to the countries abroad. Especially the Anglo-Saxon and the Chinese media were very interested in learning what the OECD-declaration meant for Switzerland and its bank client-confidentiality. And so I spent the last few days explaining them the developments of the past years and the possible consequences for the Swiss financial centre. Some of the headlines resulting from these conversations : “Switzerland pledges to lift veil on tax secrecy“, (Financial Times, UK), “Swiss banker on tax into transparency“, (CNC, China), “Les banques suisses, meilleures élèves de l’Europe“, (La Libre Belgique, 13 May 2014).

To be convincing abroad
So, what went wrong? Probably, the official Swiss bodies signalised their openness towards the AEI too reluctantly and too conservatively. On a national level, it might make sense to focus more on the conditions than the intent, but as a message to the rest of the world it would have been desirable to express earlier and clearer that Switzerland will not stand apart with regard to the AEI. This change in paradigm not only preoccupies the people in Switzerland, but also concerns our international clients whom we want to remain firm in their trust in our financial centre. If we want to be convincing abroad, we will have to be frank with them too – and we need to keep the gate to the world open, as it was said so pertinently by my colleague Stefan Hoffmann in his recent blog. - See more at: http://www.swissbanking.org/en/blog-detail-v2.htm?id=171#sthash.uhyduDv5.dpuf
The opening of the Swiss Banks towards the Automatic Exchange of Information (AEI) has been noticed abroad, too. A meeting of the ministers of the OECD member states in Paris this past May acted as a catalyst. During this meeting, 40 states, among them Switzerland, signed a declaration according to which they agree to exchange information of bank clients in tax matters in the future. Banks as well as the official Swiss bodies knew that Switzerland was to be among the singing states. However, there was a surprisingly broad media response mainly from abroad. After all, the world has known for more than a year that Switzerland supports the AEI in case it becomes an international standard. Or am I mistaken?

From whipping boy to model student?
I, for my part, was surprised when our press office received numerous inquires from international media making us realise that the step to acceptance of the AEI had not at all penetrated to the countries abroad. Especially the Anglo-Saxon and the Chinese media were very interested in learning what the OECD-declaration meant for Switzerland and its bank client-confidentiality. And so I spent the last few days explaining them the developments of the past years and the possible consequences for the Swiss financial centre. Some of the headlines resulting from these conversations : “Switzerland pledges to lift veil on tax secrecy“, (Financial Times, UK), “Swiss banker on tax into transparency“, (CNC, China), “Les banques suisses, meilleures élèves de l’Europe“, (La Libre Belgique, 13 May 2014).

To be convincing abroad
So, what went wrong? Probably, the official Swiss bodies signalised their openness towards the AEI too reluctantly and too conservatively. On a national level, it might make sense to focus more on the conditions than the intent, but as a message to the rest of the world it would have been desirable to express earlier and clearer that Switzerland will not stand apart with regard to the AEI. This change in paradigm not only preoccupies the people in Switzerland, but also concerns our international clients whom we want to remain firm in their trust in our financial centre. If we want to be convincing abroad, we will have to be frank with them too – and we need to keep the gate to the world open, as it was said so pertinently by my colleague Stefan Hoffmann in his recent blog.

 

Do you agree?

yes
no

- See more at: http://www.swissbanking.org/en/blog-detail-v2.htm?id=171#sthash.uhyduDv5.dpuf
The opening of the Swiss Banks towards the Automatic Exchange of Information (AEI) has been noticed abroad, too. A meeting of the ministers of the OECD member states in Paris this past May acted as a catalyst. During this meeting, 40 states, among them Switzerland, signed a declaration according to which they agree to exchange information of bank clients in tax matters in the future. Banks as well as the official Swiss bodies knew that Switzerland was to be among the singing states. However, there was a surprisingly broad media response mainly from abroad. After all, the world has known for more than a year that Switzerland supports the AEI in case it becomes an international standard. Or am I mistaken?

From whipping boy to model student?
I, for my part, was surprised when our press office received numerous inquires from international media making us realise that the step to acceptance of the AEI had not at all penetrated to the countries abroad. Especially the Anglo-Saxon and the Chinese media were very interested in learning what the OECD-declaration meant for Switzerland and its bank client-confidentiality. And so I spent the last few days explaining them the developments of the past years and the possible consequences for the Swiss financial centre. Some of the headlines resulting from these conversations : “Switzerland pledges to lift veil on tax secrecy“, (Financial Times, UK), “Swiss banker on tax into transparency“, (CNC, China), “Les banques suisses, meilleures élèves de l’Europe“, (La Libre Belgique, 13 May 2014).

To be convincing abroad
So, what went wrong? Probably, the official Swiss bodies signalised their openness towards the AEI too reluctantly and too conservatively. On a national level, it might make sense to focus more on the conditions than the intent, but as a message to the rest of the world it would have been desirable to express earlier and clearer that Switzerland will not stand apart with regard to the AEI. This change in paradigm not only preoccupies the people in Switzerland, but also concerns our international clients whom we want to remain firm in their trust in our financial centre. If we want to be convincing abroad, we will have to be frank with them too – and we need to keep the gate to the world open, as it was said so pertinently by my colleague Stefan Hoffmann in his recent blog.

 

Do you agree?

yes
no

- See more at: http://www.swissbanking.org/en/blog-detail-v2.htm?id=171#sthash.uhyduDv5.dpuf
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