Swiss Parliament Backs UBS Pact - Finally

Following up on my recent blog post Swiss Upper House Rejects Call for Referendum on UBS Pact , Swiss legislators have approved a law that clears the way for the government to hand over the names of thousands of alleged U.S. tax evaders to the U.S. IRS.

Hence the Swiss have dodged the risk that the U.S. would reopen a tax case against UBS.