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President says no bank client names given to US

Switzerland has not handed the names of any clients of Swiss banks to US tax authorities, Swiss President Micheline Calmy-Rey said on Wednesday.

She told a press conference in Berne that “no data on clients of the banks has been transmitted to the United States.”  

“For Switzerland, any exchange of information on client data is only possible if it is based on existing legislation,” she said, referring to the double taxation treaty reached in 2009 with the US. 

Calmy-Rey refused to give more information on the subject.  

Local media outlet SonntagsZeitung reported earlier this week that Washington had asked for detailed information on US nationals who might have improperly hidden money in Switzerland, basing its report on a purported letter from the US deputy attorney general James Cole dated August 31st, addressed to Swiss authorities.  

The letter mentioned Switzerland’s second-biggest bank, Credit Suisse, as well as about ten other banks, notably Julius Baer, Wegelin, and the cantonal banks of Zurich and Basel, the Sunday paper alleged.  

US authorities want all data concerning private customers and US foundations which have deposited at least $50,000 (€35,300) in Switzerland between the period of 2002 and July 2010, it said.  

The Swiss Financial Market Supervisory Authority surveyed a number of Swiss banks and determined that between $20 billion to $30 billion (€14.2-21.3 billion) was held by “tens of thousands” of US customers, another media outlet, the TagesAnzeiger, reported on Tuesday.  

This latest request is not the first by US officials. Switzerland’s biggest bank UBS was forced to disclose the names of 4,450 US clients for whom it had offered to conceal funds from the eyes of the US tax inspectors.  

The bank paid a fine of $780 million to avoid losing its banking licence in the United States.

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TRAVEL

Travel: Germany downgrades Covid-19 risk status of USA

The United States is no longer classed as a "high incidence area" by Germany - it has returned to being a "risk area".

Travel: Germany downgrades Covid-19 risk status of USA
People walking in New York in May 2020. Photo: DPA

The Robert Koch Institute (RKI) changed the risk classification of the United States on March 7th.

The US was previously classed as a “high incidence area” by the RKI. These are regions where the incidence is over 200 Covid-19 cases per 100,000 residents with a period of seven days.

However, now it’s a “risk area” – which is used by German authorities to describe a region with an increased risk of infection, usually above 50 coronavirus cases per 100,000 people in seven days.

Other factors are also taken into account, such as measures in place.

It means the travel requirements for people coming from the US to Germany have changed.

However, entry from the US is only permitted in a few narrow exceptions. Proof of urgent need to travel is required, German authorities say. You can find more information in the story below.

READ MORE: When are Americans allowed to travel to Germany?

What happens if I need to travel from the US to Germany?

If you are a German resident from the US, or fall into one of the exception categories, you still face strict testing and quarantine measures.

All travellers must have a negative Covid-19 test result at the latest 48 hours after they enter Germany. It must be presented to authorities if they request it.

Some individual airlines may however still say that travellers have to present a coronavirus negative test result before boarding is allowed. You should contact your airline before travel to check.

Both PCR tests as well as rapid anitgen tests are accepted if they meet the quality standards. Testing is still mandatory even if travellers are vaccinated or have recovered from a coronavirus infection. 

People returning from “risk zones” are required to self-isolate for 10 days after they arrive.

The quarantine can usually be ended with a negative coronavirus test result taken at the earliest five days after arriving in Germany.

However, states can differ on their travel regulations so check with your local authority before travelling.

Everyone entering Germany is also required to register online.

New “high incidence areas”

In the RKI’s latest travel classification list, Sweden, Hungary and Jordan are now classed as “high incidence areas” which means stricter testing and quarantine rules apply.

Areas of “variant concern” include Austria’s Tyrol region, the UK, Brazil, Portugal and Ireland. Even stricter rules apply for these regions.

You can find out more information about travel rules in our story below.

READ MORE: What you need to know about Germany’s latest rules on foreign travel

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