Switzerland: A Parasite Feeding on Poor African and Third World Countries?
June 17th, 2009
June 17th, 2009
By Lord Aikins Adusei
For more than half a century the Alpine nation of Switzerland has built a reputation as the world´s centre for tax evasion, fraud accounting, money laundering, racketeering, save haven and above all a staunch ally of corrupt third world leaders and a great beneficiary of third world corruption. For more than 70 years various categories of persons including Popes, presidents, prime ministers, corrupt dictators, wealthy business men, and drug dealers have all used and benefited from the banking secrecy laws of Switzerland. As a result her economy has been described in various terms as underground economy, deposit box for dirty money and dirt-driven economy.
Over the last couple of years countries such as United States, Germany and France have argued that they have become victims of Swiss illegal financial activities and as result have stepped up their campaign to get Swiss authorities to cooperate in fighting tax evasion and money laundering. The campaign has even brought a row between the German Finance Minister and members of Swiss parliament. These nations claim they are loosing billions of dollars annually through tax evasion and other illegal financial activities. In 2009 a action by the US Justice Department against the Swiss Banking giant UBS earned the United States close to $1 billion. In 2001, the United States learnt that the Swiss had protected the bank that handled finances for Osama Bin Laden. One of them, the Bahrain International Bank, had funds transiting through non-published accounts of Clearstream, which has been qualified as a “bank of banks” and was involved in one of Luxembourg’s major financial scandals.
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