Banking secrecy issues would appear still to be high on the agenda for Liechtenstein in the New Year, according to a report in this week's Liechtensteiner Vaterland.
The newspaper revealed that the 17th New Year's meeting of the Patriotic Union (Vaterlandische Union) political party is to be dedicated to the issue of 'Banking Secrecy: Silence That Will Lead To Disaster Or Blessing?'.
This follows increasing pressure from European Union member countries such as Austria and Luxembourg, who have agreed to relax banking secrecy laws on non-resident savings accounts only if other financial centres such as Switzerland and Liechtenstein follow suit. Negotiations between the EU and Andorra, Liechtenstein, and Switzerland are scheduled for completion by the end of 2002.
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