Liechtenstein calls for compromise

Liechtenstein has called for a compromise with European countries amid a
world wide tax fraud investigation of its banks after a tax evasion scheme
hiding billions of euros from tax authorties was unveiled.

Lichtenstein Prime Minister Otmar Hasler said in Brussels yesterday the
principality wanted to reach a ‘reasonable agreement’ with neighbours who are
calling for greater transparency as they hunt for the hidden billions, according
to
Agence
France Presse
.

The principality has so far resisted calls to lift its banking system’s
secrecy and help foreign probes into the tax fraud, inviting a threat from
Germany to refuse ratification of a Schengen free travel zone membership.

German Finance Minister Peer Steinbrueck told the Ruhr Nachrichten
newspaper he would raise the issue at a meeting of EU finance ministers in
Brussels next week.

Further reading:

Germany plans to involve EU in tax evasion probe

MPs to probe Liechtenstein informant deal

Related reading