The Swiss government negotiated the outlines of a Program to solve the tax dispute between the USA and the Swiss banks. It was signed on August 29, 2013.

As an illustration of the position of the Swiss government towards the banks that are taking part in the US Program, the Wall Street Journal (WSJ) comes back on a letter sent by the Saanen Bank to the Swiss Finance Department. Eveline Widmer-Schlumpf, the Federal Counseller in charge of that department, acknowledged the concerns of SB Saanen Bank AG but confirms that the banks are capable of dealing with the demands of the US Program themselves.

According to the WSJ, some observers say that ‘mounting US demands and the absence of support from the Swiss government might prompt some banks to reconsider their participation in the program’.

Overall the government takes a non-active stance.