| 03.04.2009 Opalesque Exclusive: Currencies` devaluation and protective banking were reasons why capital ran to Switzerland last century, not tax evasion |
| From the Opalesque team: Constant and rapid currencies' devaluations were the first impetus for capital to escape to Switzerland, not tax evasion, wrote Bernard Reymond, Bale Pension fund's advisor in Swiss daily paper Le Temps this week. Indeed, European currencies, especially in the first half of the 20th century, were often on a roller-coaster ride. Some countries had such high taxation |