OECD and Switzerland clash over banking transparency

The Organisation for Economic Cooperation and Development (OECD) and Switzerland have staged a public row over Swiss banking secrecy. In a highly undiplomatic letter to Hans-Rudolf Merz, the Swiss President, OECD Secretary General Angel Gurría complained that “some Swiss officials have characterised the OECD as not having been fair to the Swiss government on…international cooperation on tax matters”, and that he wanted to “prove the inaccuracy of such statements”.