EU Finance Ministers on Tuesday failed to reach an agreement on the savings tax accord which has been held hostage for almost a year due to disagreements with Switzerland. As the 2002-year-end deadline looms, the Ecofin ministers will convene an extraordinary Council meeting "before Christmas" to seek an agreement with the Swiss. If a deal is not struck in December, the EU could see the collapse of its plans.
The savings tax directive would provide for an automatic exchange of informati...
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