The Economist is calling for an end to the US's eight-year war of terror on Switzerland:
"The tax assault on the Swiss
Mission unaccomplished But it is still time for America to move on from the Gnomes of Zurich
Feb 7th 2015
IN 2007 Bradley Birkenfeld, an American employed by UBS, approached officials in Washington. His revelations about the bank’s surreptitious servicing of thousands of rich, tax-dodging Americans started a war on Swiss moneymen.
Eight brutal years later, far from being over, it has become bogged down. Some large banks, including UBS and Credit Suisse, have been punished. But America is refusing to strike deals with several others until a programme to penalise dozens of smaller banks has run its course—and this is behind schedule.
One reason is that Washington has asked for far more information from these small fry than it originally said it would. To some, this looks like overkill. The deterrent effect of continuing to act tough in Switzerland is minimal, says a lawyer who has worked on Swiss tax cases, since for any Swiss banker to carry on as before would “border on reckless”.
And the continued focus on Switzerland suits tax havens elsewhere, which might otherwise attract more attention from American prosecutors." http://www.economist.com/news/intern...zurich-mission