Swiss Finance Minister Eveline Widmer-Schlumpf agreed to allow Germany to send its own inspectors to Swiss banks, Der Sonntag reported.
The German financial regulator will determine whether Swiss banks are following German investor and consumer regulations, the newspaper reported today.
As I understand it, Switzerland has its own central banking system. So it's not surprising that it's cooperating with the international system of central banking.
ReplyDeleteIn a truly libertarian system, it would be up to banks whether they would let foreign inspectors into the system. (But given the long history of aggression by central banks and tax collectors, in self-defense they should be banned from entering a libertarian country in their official capacities.)