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Vatican newspaper welcomes Swiss banks' accord with US prosecutors

August 14, 2009

An article in the Vatican newspaper L'Osservatore Romano has welcomed a new deal between the US government and Swiss banking leaders, saying that the pact is "a step forward toward that model of ethical finance described by Benedict XVI" in his encyclical, Caritas in Veritate. The agreement gives the US government greater access to the identity of US citizens holding numbered accounts in the Swiss banks that have been heretofore renowned for their secrecy-- thus allowing for prosecution of tax-evaders.


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