Die Welt: The Greek Gov’t Ignored 800 Bln In Black Money Transferred to Swiss Banks

“The Greek government has done nothing for a year to recover supposedly untaxed assets of Greek citizens in Switzerland. There is an invitation extending from 2014 by the Swiss Secretariat for International Financial Matters (SIF) to track the money and transfer them to Athens,” the German newspaper Die Welt pressed earlier today, accusing Athens for ignoring the black funds hidden in Swiss bank accounts.

The Greek government can benefit from assets worth billions of euros in taxation, currently in Swiss banks, the report underlines. The Swiss agency confirmed that Greek Finance Minister Yannis Varoufakis as well as his predecessors had never replied to the Swiss authorities’ invitation.

According to statistics emerging from the Swiss central financial institution, the Greek deposits in the country’s banks reach 800 billion euros — a figure recorded at the end of 2013. At the same time, much of the interest earned must have also remained untaxed, the German newspaper highlights, as this was for many years the standard for foreign clients who moved their money in Swiss bank accounts.

Source: greekreporter.com