Financial storm swirls around San Marino

August 24th, 2009

As governments hunt for tax evaders and financial fraudsters, a veil of secrecy is lifting

The Times

On the face of it, the 1,700-year-old Most Serene Republic of San Marino is as tranquil as ever.

Perched on top of Monte Titano in the Appennine foothills, within sight of Italy’s Adriatic coast, it has long been a magnet for tourists, who come to buy its stamps and coins and photograph its medieval towers, and for those seeking low tax rates and banking secrecy.

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