For a long time, the Swiss have prided themselves on the 'calling cards' of their small but proud country: these include the Swiss Guard protecting the Pope, perfectly accurate watches, excellent chocolate, absolute political neutrality, and, of course, the world-famous Swiss banks, uncompromising in guarding deposit secrecy. For hundreds of years, Swiss banking houses guaranteed absolute secrecy to clients. Information about money deposited in numbered accounts here never fell into the wrong hands – whether it be competitors of depositors, heirs not named in wills, or investigative bodies of any state. 'As safe as a Swiss bank' – this saying spread throughout the world.
And now, the impregnable bastion of secrecy seems set to collapse overnight: Switzerland has become the first country to support a global campaign aimed at returning money illegally appropriated by corrupt state leaders. Having previously declared the inviolability of banking secrecy, Switzerland now promises its assistance to the 'competent authorities' of the world's countries so that money stolen by dictators and corrupt government officials does not disappear without a trace.
It cannot be said that this decision was taken out of the goodness of the hearts of the owners of Swiss banking houses. The truth is different – they were literally forced. The global banking community seeks to strengthen relations between developed and developing countries in the matter of returning funds to their rightful owners. Representatives of the World Bank say that the campaign launched across the planet is a warning to all corrupt state officials: they cannot escape justice, wherever they may have placed their money. Pressure on Switzerland has been exerted over the last five years: banks and the state itself were threatened with sanctions of varying severity.
Switzerland clung to its neutrality to the last: even the 'surrounding' European Union was unable to shake the stronghold of the Helvetic Confederation. In fact, it did not try too hard: after all, a great many European businessmen and politicians possess those very 'opaque' accounts. Nevertheless, with the EU's eastward expansion, even the leaders of EU countries came to the conclusion that corrupt officials from EU newcomers cannot be allowed to use such a convenient opportunity. As for the initiator of this campaign, the United States, the White House is only happy to join forces with Europe: henceforth, no dictator, no ayatollah, and no president from countries designated by George Bush as the 'axis of evil' can be sure of the safety of their own money.
Today, completely different rhetoric is coming from Switzerland compared to just six months ago. A representative of the Swiss Foreign Ministry, Paul Seger, says: 'We do not want our financial system to be used to place illegally obtained funds, and we have sufficient means to prevent their flow into Switzerland. If it comes to the immediate return of such money, we have already returned $1.6 billion over the last few years, which is much more than anywhere else.'
And rather substantial amounts will have to be returned. Swiss banks became a safe haven for half a billion dollars appropriated by Philippine dictator Ferdinand Marcos, report BBC correspondents in Switzerland. The democratic government that came to power as a result of a counter-coup spent 18 years searching for and recovering this money. Former Nigerian ruler Sani Abacha also had warm feelings for Swiss banks, where he hid $700 million. The accounts of the late chairman of the Palestinian Authority, Yasser Arafat, are estimated at $3 billion, and the so-called 'Nazi gold' – valuables looted by Hitler's clique from German Jews and hidden in the vaults of Swiss banks – remains one of the darkest legends left behind by the Third Reich.
In the Swiss Foreign Ministry, they are well aware that the image of the country's banks as a safe haven for dirty money will be difficult to change, even despite new laws preventing their 'laundering.' 'Just watch any James Bond movie or read Dan Brown's The Da Vinci Code to understand what stereotype exists in the world. Everywhere it is implied that Swiss bankers hide such money,' ministry representatives acknowledge. Of course, declarations of intent alone will not change it, but the Swiss are determined to do so, even at the cost of losing a certain share of their image.
However, dictators still have a 'light in the window': countries of the Baltic region are still resisting massive international pressure. And it is not for nothing that advertising sometimes calls Latvia the 'Baltic Switzerland' – according to European statistics, the number of numbered 'closed' accounts here has doubled over the past year, almost proportionally to their disappearance from Swiss banks.
Boris ALTNER.
IA Rosbalt