Switzerland said this week that it would cooperate with EU efforts to clamp down on tax evasion, but would not abolish its banking secrecy laws

Date: 29/06/2000

The cabinet, in its first official comment on the information-sharing deal struck by Union leaders last week, reiterated a proposal to study possible changes to its existing withholding tax system. Finance Minister Kaspar Villiger said Switzerland was "ready to seek a solution so that EU rules are not being circumvented".