According to reports in this week's Liechtensteiner Vaterland, there was general agreement at the 17th New Year's Meeting of the Patriotic Union (Vaterlandische Union), chaired by VU Party President Heinz Frommelt, that increasing the European Union's powers to tax sovereign member states would be undesirable.
However, on the issue of banking secrecy contradictory views were reportedly expressed, with former SP Federal Councillor Armin Jans stating that he personally would 'have no difficulties if the banking secrecy is lifted vis-a-vis fiscal authorities'.
Meanwhile, during Prime Minister Otmar Hasler's official visit to Vienna, the jurisdiction received great praise for the action which it has taken to counter money laundering and terrorist funding.
The Austrian Chancellor, Wolfgang Schussel expressed 'great recognition' of Liechtenstein's efforts, and stated that it was 'impressive how quickly, efficiently and with what precision' the authorities had reacted to international pressure and the attentions of the Financial Action Task Force.
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