yep, this is a really important point. author subtly glosses over the notion that Switzerland was always more than shady banks, but this isn't clear to me at al

yep, this is a really important point. author subtly glosses over the notion that Switzerland was always more than shady banks, but this isn't clear to me at all; shady financial stuff is basically swiss bread and butter. in Europe, one study: > we estimate that close to 40% of multinational profits are shifted to tax havens globally each year. The non-haven European Union countries appear to be the main losers from this shifting. ref: https://www.nber.org/papers/w24701 https://www.nber.org/papers/w24701 also ref: "swiss sidestep" and how multinationals basically launder money thru Switzerland: https://www.opendemocracy.net/en/oureconomy/transfer-mispricing-the-jewel-in-every-multinational-enterprises-crown/ https://www.opendemocracy.net/en/oureconomy/transfer-mispric... lastly that Swiss banks actively obstructed justice during Obama's DOJ investigation. then the US sent them money to bail them out, allowing Credit Suisse/UBS to largely escape 2008 financial meltdown and continue to help wealthy US individuals evade taxes. to be fair this has changed as Switzerland is way more hostile to US tax evasion now, but they don't have a good record here.