| 14.03.2009 | 08:00 UTC
Switzerland agrees to loosen bank secrecy rules
Austria, Luxembourg and Switzerland have said they would relax their strict banking secrecy rules and comply with international standards on tax evasion probes. The three countries made the concessions after similar moves by Andorra and Liechtenstein on Thursday. The five countries were on the agenda for tax-haven talks at a meeting of finance ministers from the G20 group of top economic countries. This will be the first time Switzerland has agreed to sign up to OECD economic security rules that could affect its long-standing banking secrecy rules. Switzerland and Austria said they would not change their countries' secrecy laws, but would review future information requests on a case by case basis.
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