The government of Switzerland does not see any immediate need to change the country’s current position regarding disclosing to overseas tax authorities the details of foreign individuals with accounts in Swiss banks, and the country will not enter into tax information exchange agreements with the EU in the near future, according to opinion of the President of Switzerland Ueli Murer as provided in an interview on April 14th.

The President explained Switzerland’s position on information exchanges, saying that banking confidentiality should be viewed as seriously as medical confidentiality, and “…the state must absolutely respect the private sphere,” and should not be allowed to know “…what there is in your bank account”.