Austrian Bank Secret: Faymann Vs. Fekter

People ♦ Published: May 13, 2013; 12:07 ♦ (Vindobona)

Austria‘s agreement to an automatic exchange of data has become a personal match between Chancellor Faymann and Finance Minister Fekter.

Austrian Bank Secret: Faymann Vs. Fekter / Picture: © Flickr / Werner Faymann, Thomas Jantzen

At the EU Finance Minister Council on Tuesday it will decided upon whether or not the Austrian government will agree to the automatic exchange of data when issues like the EU Savings Directive (EUSD), the enactment of the automatic data exchange and the abandonment of the banking secret for foreigner will be discussed. While Chancellor Werner Faymann argues that the country needs to…