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United States President Joe Biden surprised Bern with his decision to single out Switzerland as a fiscal paradise in his State of the Union annual address to Congress on Wednesday. The Swiss government has sent a letter in response to the president’s remarks which compared Switzerland to Bermuda and the Cayman Islands as a tax haven. On Thursday, Finance Minister Ueli Maurer expressed surprise at the comparison but also downplayed its significance in statements to German-language public broadcaster SRF. Switzerland “is a country that fully respects all its international obligations and is very transparent,” Maurer told SRF. I don t think that s the position of the (US) government, but the speech writers didn t know the real facts yet, he added. Switzerland has contacted the Biden administration in writing, he said. Maurer also intends to make his views known personally at a meeting with his US counterpart Janet Yellen in a few weeks time. I believe that such things can happen, h

GermanyBernSwitzerlandUnited statesWashingtonCayman islandsBermudaSwissJanet yellenUeli maurerJoe bidenOrganisation for economicUnited states president joe bidenFinance minister ueli maurerEconomic cooperationLatest news