The formidable Swiss banking system which lived and grew on deposits from all leading criminals and money launderers from across the globe, has been at the receiving end ever since the terrorist attack on the US. In the year 2008 alone, the banking system has lost over 27% of their deposits worth over 1 trillion dollar. This has put the entire Swiss economy in a downward spiral, which analysts say may not stop at least for another year. With the US putting more pressure on the Swiss government to share information on 52000 US accounts, the USP of Swiss banks are likely to be hit further.
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