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article imageSwiss banks refuse to open accounts of Greek MPs

By Katerina Nikolas     Sep 14, 2012 in World
Swiss banks, renowned for their discretion, have rejected a request from the Greek authorities to open the bank accounts of Greek MPs to ensure tax was paid on deposits.
Ta Nea reported that the decision by the Swiss Bankers Association to refuse to open any potential bank accounts of Greek MPs was reached on July 24, but only made public today. Greek authorities are attempting to investigate if MPs have stashed cash in Swiss accounts without declaring the tax.
According to To Vima the Swiss responded in writing, saying it
"is not the policy of the Swiss Banks to promote such requests to all our members. Members of parliament can directly contact their banks if have accounts in Switzerland. In each case the Swiss Banks are not required to confirm that a particular person has an account with them."
The response came despite Greek MPs authorizing the Bank of Greece and the Greek Banks Association to request information regarding undeclared bank accounts.
Digital Journal recently reported that former Greek Prime Minister George Papandreou said Greek bailouts could have been avoided if the country had "not been robbed by funds being funnelled to tax havens." One Swiss finance broker estimated €20 billion had been sent to Swiss bank accounts, 99 percent of it untaxed.
More about Greek mps, Swiss bank accounts, Greek Banks Association
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