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Affiliated Press covers the main news from the major eurozone nations
THE REAL OBAMA TURNED UP
TAX HAVEN ENDS USA STRIKE
Though Switzerland has long been a center for finance, diplomacy and trade, it has been trying to shed its image as a haven for tax evasion and money laundering that has been carried out through the misuse of its famous banking secrecy. The government has signed deals with other nations to provide greater assistance to foreign tax authorities seeking information on their citizens' accounts.
Widmer-Schlumpf refused to say how much money Swiss banks will have to pay to avoid prosecution. However, she said there will be a distinction between what banks did prior to 2009, when the United States went after UBS AG, Switzerland's biggest bank, and those that continued aiding tax cheats afterwards. UBS entered a deferred prosecution agreement with U.S. authorities in February 2009, and agreed to pay $780 million in fines, penalties, interest and restitution.
"It will be a certain number of banks that engaged in these practices after 2009 that, let's say this honestly, they shouldn't have done," she said. She declined to provide further details of the agreement, but dismissed reports that the Swiss government will pay billions of dollars upfront to cover fines the country's banks can expect to receive from U.S. authorities.
"I can tell you that Switzerland will pay nothing," she added. "We will ensure that banks can participate in this deal, but we won't do more." In January, Switzerland's oldest bank, Wegelin & Co., became the first foreign bank to plead guilty in the United States to tax charges when it admitted that it helped American clients hide more than $1.2 billion from the Internal Revenue Service. The bank, which was founded in 1741, is closing after admitting to helping American tax cheats.
Switzerland took a strike Wednesday to end a long-running tax evasion dispute with the United States with the government's announcement that it plans to let banks skirt the country's strict client secrecy laws.
Without providing specific details of the proposals, Finance Minister Eveline Widmer-Schlumpf said Switzerland is acting now because U.S. patience with those Swiss banks suspected of aiding American tax cheats is running out.
The aim of the government's planned deal is to "restore stability" to the Swiss banking industry, but that it will be up to the banks themselves to decide if they want to negotiate with U.S. authorities to settle legal disputes over suspected American tax evaders. The deal was agreed to by the Swiss Cabinet and will go to lawmakers in parliament for approval later this year.
"We are convinced it's a good, pragmatic solution that really helps the banks resolve this issue," Widmer-Schlumpf told a news conference in the Swiss capital Bern.
Anne Hunt:
European Co-ordinator
Janet Mosse:
News Editor
25 DIFFERENT EXPERIENCES AT THE FRENCH THEME PARK
Connexion-Advertiser
is a large group of newspapers providing English language news and features throughout continental Europe.
These papers are produced by the same team that produces France’s and Euro-Zones leading daily and weekly newspapers.
ONE MAN CHARGED UNDER THE TERRORIST ACT OF MURDER MOST FOUL IN WOOLWICH
Sam Watts:
Print Editor Lyon
Susan Dean:
Bureau Chief
Rome
An autopsy shows that a British soldier killed in a suspected Islamic extremist attack in London last week died from multiple cuts and stab wounds after he was hit by a car, police said Wednesday.
Lee Rigby, 25, was first struck by a blue car and then stabbed by two men near his barracks in southeast London's Woolwich district, police said. Images that emerged in the attack's aftermath showed two men wielding bloody knives and meat cleavers. Police said the autopsy showed Rigby died from "multiple incised wounds."
Both prime suspects were shot and wounded by police at the scene. Suspect Michael Adebolajo, 28, remains hospitalized in stable condition while Michael Adebowale, 22, was discharged from a hospital Tuesday and is in police custody.
A total of 10 people have been arrested in the case, including the two main suspects. Two people were released and several others have been set free on bail pending further inquiries. No charges have been filed yet.
With the cause of death established, police said an inquest on Rigby's death will open Friday at Southwark Coroner's Court. In Britain, inquests are conducted to establish the circumstances surrounding unexpected or violent deaths.
Celeste Duval:
News Editor
Paris
IRANIAN ELECTIONS
Source BBC News
Major Events in the last year
STORIES THAT MADE A DIFFERENCE
Reformist-backed candidate Hassan Rouhani is maintaining a commanding lead with more than half the ballots counted in Iran's presidential poll.
The cleric has just under 51% of 27.5 million votes counted so far - well ahead of the next candidate, Tehran Mayor Mohammad Baqer Qalibaf.
Mr Rouhani could win in the first round if he finishes with more than 50%.
Turnout was estimated at 80% among the 50 million Iranians eligible to vote for a successor to Mahmoud Ahmadinejad.
His eight years in power have been characterised by economic turmoil and Western sanctions against Iran over its nuclear programme
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