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Wednesday, May 22, 2013

Europe closes in on tax havens; Austria agrees to swap bank data

Greece's PM Samaras talks to his Italian counterpart Letta next to Cyprus' President Anastasiades during a European Union leaders summit in BrusselsBy John O'Donnell BRUSSELS (Reuters) - Europe moved closer to ending banking secrecy on Wednesday after Austria dropped objections to sharing data on foreign depositors and the EU focused on negotiating a similar agreement with Switzerland. "It's a bad day for tax cheats," Austrian Chancellor Werner Faymann told reporters at a meeting of EU leaders to discuss fighting tax fraud. "We will act jointly and I believe we will manage the exchange of data by the end of the year. ...



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