Liechtenstein banks on secrecy: the recent theft of data from a Liechtenstein bank may change the Savings Tax Directive between the EU and countries like Liechtenstein and Switzerland sooner than expected. The past few months have seen increasing political pressure on both states to combat banking secrecy.

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Liechtenstein banks on secrecy: the recent theft of data from a Liechtenstein bank may change the Savings Tax Directive between the EU and countries like Liechtenstein and Switzerland sooner than expected. The past few months have seen increasing political pressure on both states to combat banking secrecy.

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In February 2008, the German Intelligence Service laid its hands on a CD with stolen data containing confidential information on foreign clients of the Liechtenstein bank LGT--Liechtenstein Global Trust. Hundreds of Germans, including the Deutsche Post chief executive Klaus Zumwinkel, were either arrested or...

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