SWISS BANKS STAY IN ITALY DESPITE LIGHTNING RAIDS

Wednesday, November 4, 2009

Despite a mix of generous tax amnesties and lightning police raids on their offices, Swiss banks in Italy are well position to re-receive Italian clients who leave their domestic Swiss operations, say experts.

Wealthy Italians Are Being Lured Out of Swiss Havens Like Lugano

Wealthy Italians Are Being Lured Out of Swiss Havens Like Lugano

The Italian branches of Swiss banks should receive enough Italian business to offset the majority of outflows should thousands of wealthy Italians pull out of Switzerland.

The generous amnesty offered by the Italian government means that Italian citizens face no loss if they re-invest in Swiss banks with whom they have built up a trusting relationship.

http://online.wsj.com/article/BT-CO-20091029-718046.html

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