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| 24/01 2008 05:07
if you think about the world economy, it is all connected - if one country starts to go downhill it will have a ripple effect on the rest of the world. for swiss banks, i'm sure (like any other country) it relies to a certain extent on foreign money coming in and a good place may well be the attraction of privacy swiss banks have to offer but i wouldn't have though it solely relies on foreign black money. Also, "black money" is quite ambigious. Swiss Banks follow a Banking code so i'm sure they will not accept funds from proceeds of crime. However the otherside to the coin is that the Banking Laws in Switzerland offer clients a lot of privacy so whether the Bank have a screening process to distinguish between legitimate and illegitimate funds i have no idea. Also it may not always be "black money" in Swiss accounts. The main reason people put money in those bank is because it is not disclosed to the Tax agencies in the varoius countries so a lot of wealthy business and government people use Swiss Bank accounts for those reasons
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