Cable Viewer

Currently released so far... 12779 / 251,287

### Browse latest releases

2010/11 2010/12 2011/01 2011/02 2011/03 2011/04 2011/05
2010/11/28 2010/11/29 2010/11/30
2010/12/01 2010/12/02 2010/12/03 2010/12/04 2010/12/05 2010/12/06 2010/12/07 2010/12/08 2010/12/09 2010/12/10 2010/12/11 2010/12/12 2010/12/13 2010/12/14 2010/12/15 2010/12/16 2010/12/17 2010/12/18 2010/12/19 2010/12/20 2010/12/21 2010/12/22 2010/12/23 2010/12/24 2010/12/25 2010/12/26 2010/12/27 2010/12/28 2010/12/29 2010/12/30
2011/01/01 2011/01/02 2011/01/04 2011/01/05 2011/01/07 2011/01/09 2011/01/10 2011/01/11 2011/01/12 2011/01/13 2011/01/14 2011/01/15 2011/01/16 2011/01/17 2011/01/18 2011/01/19 2011/01/20 2011/01/21 2011/01/22 2011/01/23 2011/01/24 2011/01/25 2011/01/26 2011/01/27 2011/01/28 2011/01/29 2011/01/30 2011/01/31
2011/02/01 2011/02/02 2011/02/03 2011/02/04 2011/02/05 2011/02/06 2011/02/07 2011/02/08 2011/02/09 2011/02/10 2011/02/11 2011/02/12 2011/02/13 2011/02/14 2011/02/15 2011/02/16 2011/02/17 2011/02/18 2011/02/19 2011/02/20 2011/02/21 2011/02/22 2011/02/23 2011/02/24 2011/02/25 2011/02/26 2011/02/27 2011/02/28
2011/03/01 2011/03/02 2011/03/03 2011/03/04 2011/03/05 2011/03/06 2011/03/07 2011/03/08 2011/03/09 2011/03/10 2011/03/11 2011/03/13 2011/03/14 2011/03/15 2011/03/16 2011/03/17 2011/03/18 2011/03/19 2011/03/20 2011/03/21 2011/03/22 2011/03/23 2011/03/24 2011/03/25 2011/03/26 2011/03/27 2011/03/28 2011/03/29 2011/03/30 2011/03/31
2011/04/01 2011/04/02 2011/04/03 2011/04/04 2011/04/05 2011/04/06 2011/04/07 2011/04/08 2011/04/09 2011/04/10 2011/04/11 2011/04/12 2011/04/13 2011/04/14 2011/04/15 2011/04/16 2011/04/17 2011/04/18 2011/04/19 2011/04/20 2011/04/21 2011/04/22 2011/04/23 2011/04/24 2011/04/25 2011/04/26 2011/04/27 2011/04/28 2011/04/29 2011/04/30
2011/05/01 2011/05/02 2011/05/03 2011/05/04 2011/05/05 2011/05/06 2011/05/07 2011/05/08 2011/05/09 2011/05/10 2011/05/11 2011/05/12 2011/05/13 2011/05/14 2011/05/15 2011/05/16 2011/05/17 2011/05/18 2011/05/19 2011/05/20

### Browse by creation date

66 72 73 75 79 85 86 87 88 89 90 91 92 93 94 96 97 00 01 02 03 04 05 06 07 08 09 10
1966/12
1972/02 1972/08
1973/04
1975/03
1979/08
1985/03 1985/05 1985/06
1986/05
1987/06
1988/01 1988/03 1988/07
1989/12
1990/01 1990/07 1990/08 1990/10
1991/05
1992/01 1992/03 1992/06 1992/09 1992/12
1993/01 1993/10
1994/12
1996/11
1997/06 1997/12
2000/05 2000/06 2000/09 2000/11
2001/02 2001/03 2001/06 2001/07 2001/09 2001/10 2001/11
2002/01 2002/02 2002/03 2002/04 2002/07 2002/08 2002/09 2002/11 2002/12
2003/01 2003/02 2003/03 2003/04 2003/05 2003/06 2003/07 2003/08 2003/09 2003/10 2003/11 2003/12
2004/01 2004/02 2004/03 2004/04 2004/05 2004/06 2004/07 2004/08 2004/09 2004/10 2004/11 2004/12
2005/01 2005/02 2005/03 2005/04 2005/05 2005/06 2005/07 2005/08 2005/09 2005/10 2005/11 2005/12
2006/01 2006/02 2006/03 2006/04 2006/05 2006/06 2006/07 2006/08 2006/09 2006/10 2006/11 2006/12
2007/01 2007/02 2007/03 2007/04 2007/05 2007/06 2007/07 2007/08 2007/09 2007/10 2007/11 2007/12
2008/01 2008/02 2008/03 2008/04 2008/05 2008/06 2008/07 2008/08 2008/09 2008/10 2008/11 2008/12
2009/01 2009/02 2009/03 2009/04 2009/05 2009/06 2009/07 2009/08 2009/09 2009/10 2009/11 2009/12
2010/01 2010/02

### Browse by origin

A B C D F G H I J K L M N O P Q R S T U V W Y Z
Embassy Athens Embassy Asuncion Embassy Astana Embassy Asmara Embassy Ashgabat Embassy Apia Embassy Ankara Embassy Amman Embassy Algiers Embassy Addis Ababa Embassy Accra Embassy Abuja Embassy Abu Dhabi Embassy Abidjan Consulate Auckland Consulate Amsterdam Consulate Adana American Institute Taiwan, Taipei
Embassy Bujumbura Embassy Buenos Aires Embassy Budapest Embassy Bucharest Embassy Brussels Embassy Bridgetown Embassy Bratislava Embassy Brasilia Embassy Bogota Embassy Bishkek Embassy Bern Embassy Berlin Embassy Belmopan Embassy Belgrade Embassy Beirut Embassy Beijing Embassy Banjul Embassy Bangkok Embassy Bandar Seri Begawan Embassy Bamako Embassy Baku Embassy Baghdad Consulate Barcelona
Embassy Copenhagen Embassy Conakry Embassy Colombo Embassy Chisinau Embassy Caracas Embassy Canberra Embassy Cairo Consulate Curacao Consulate Ciudad Juarez Consulate Chennai Consulate Casablanca Consulate Cape Town Consulate Calgary
Embassy Dushanbe Embassy Dublin Embassy Doha Embassy Djibouti Embassy Dili Embassy Dhaka Embassy Dar Es Salaam Embassy Damascus Embassy Dakar Consulate Dubai
Embassy Freetown Consulate Fukuoka
Embassy Guatemala Embassy Gaborone Consulate Guayaquil Consulate Guadalajara
Embassy Helsinki Embassy Harare Embassy Hanoi Consulate Ho Chi Minh City Consulate Hermosillo Consulate Hamilton Consulate Hamburg Consulate Halifax
Iran RPO Dubai Embassy Islamabad Consulate Istanbul
Embassy Jakarta Consulate Jerusalem Consulate Jeddah
Embassy Kyiv Embassy Kuwait Embassy Kuala Lumpur Embassy Kinshasa Embassy Kingston Embassy Kigali Embassy Khartoum Embassy Kathmandu Embassy Kampala Embassy Kabul Consulate Kolkata
Embassy Luxembourg Embassy Luanda Embassy London Embassy Ljubljana Embassy Lisbon Embassy Lima Embassy Lilongwe Embassy La Paz Consulate Lahore Consulate Lagos
Mission USOSCE Mission USNATO Mission UNESCO Embassy Muscat Embassy Moscow Embassy Montevideo Embassy Monrovia Embassy Minsk Embassy Mexico Embassy Mbabane Embassy Maputo Embassy Manila Embassy Manama Embassy Managua Embassy Malabo Embassy Madrid Consulate Munich Consulate Mumbai Consulate Montreal Consulate Monterrey Consulate Milan Consulate Melbourne
Embassy Nicosia Embassy Niamey Embassy New Delhi Embassy Ndjamena Embassy Nassau Embassy Nairobi Consulate Naples Consulate Naha
Embassy Ouagadougou Embassy Ottawa Embassy Oslo
Embassy Pristina Embassy Pretoria Embassy Prague Embassy Port Of Spain Embassy Port Louis Embassy Port Au Prince Embassy Phnom Penh Embassy Paris Embassy Paramaribo Embassy Panama Consulate Peshawar
Embassy Quito Consulate Quebec
REO Basrah Embassy Rome Embassy Riyadh Embassy Riga Embassy Reykjavik Embassy Rangoon Embassy Rabat Consulate Rio De Janeiro Consulate Recife
Secretary of State Embassy Suva Embassy Stockholm Embassy Sofia Embassy Skopje Embassy Singapore Embassy Seoul Embassy Sarajevo Embassy Santo Domingo Embassy Santiago Embassy Sanaa Embassy San Salvador Embassy San Jose Consulate Strasbourg Consulate St Petersburg Consulate Shenyang Consulate Shanghai Consulate Sapporo Consulate Sao Paulo
Embassy Tunis Embassy Tripoli Embassy Tokyo Embassy The Hague Embassy Tel Aviv Embassy Tehran Embassy Tegucigalpa Embassy Tbilisi Embassy Tashkent Embassy Tallinn Consulate Toronto Consulate Tijuana
USUN New York USEU Brussels US Office Almaty US Mission Geneva US Interests Section Havana US Delegation, Secretary UNVIE Embassy Ulaanbaatar
Embassy Vilnius Embassy Vienna Embassy Vatican Embassy Valletta Consulate Vladivostok Consulate Vancouver
Embassy Windhoek Embassy Wellington Embassy Warsaw
Embassy Yerevan Embassy Yaounde
Embassy Zagreb

### Browse by tag

A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
AMED ASEC AF AORC AMGT AFIN AJ AR AS AE ASECKFRDCVISKIRFPHUMSMIGEG AU AID AG ASCH AA AL AM AORL AEMR APECO APER ASEAN APEC ADM AFSI AFSN ABLD ADCO ABUD ASUP AN AIT AGR ACOA ANET ASIG AGMT AINF AECL AFFAIRS ADANA AY AADP ARF AGAO ACS AMCHAMS ADPM ATRN ALOW AND APCS ACAO AORG AROC AO AODE ACABQ AX AMEX AFGHANISTAN AZ ARM AQ ATFN AMBASSADOR ACBAQ AC AUC ASEX AER AVERY AGRICULTURE AFU AMG ATPDEA
BL BR BTIO BA BG BEXP BTIU BO BK BBSR BU BRUSSELS BD BM BIDEN BE BH BILAT BF BY BC BB BT BX BP BMGT BWC BN
CO CA CASC CJAN CI CH CNARC CS CU CVIS CACM CG CMGT CPAS CB CD CM CV CDG CIDA CWC CLINTON CHR CBW COE CR CE CIS CDC CONS CY CW CF CODEL CIA CROS CAPC CT CBSA CEUDA COM CFED CACS CAC CIC COPUOS CL CARSON CN CTR CONDOLEEZZA CICTE CYPRUS COUNTER COUNTRY CBE CKGR CVR COUNTERTERRORISM CITEL CLEARANCE CARICOM CSW CITT CDB CJUS CTM CAN CLMT CBC
DR DEA DEAX DHS DAO DCM DJ DA DE DOD DOMESTIC DO DK DPRK DEPT DISENGAGEMENT DOE DTRA DS DEFENSE
ECON EAID EC EUN EAIR EFIN EINV EG EXTERNAL ENRG EPET ETRD EAGR ETTC ECIN ELAB EUREM ET EU ELN ECPS ER EIND EMIN ELTN EWWT EFIS ETRDEINVECINPGOVCS EPA EINT ES EUC ENGR ENERG EN EZ ERD EFTA EK ETRC EI ETRN EINVECONSENVCSJA EEPET EUNCH ESENV ENNP ENVI ECINECONCS ELECTIONS ENVR EXIM ENIV ESA EUR ETRO ETRDECONWTOCS EFINECONCS EUMEM ERNG ECONOMY ECA EINVEFIN ETC EAP EINN ECONOMIC EXBS ECUN ENGY ECONOMICS EIAR EINDETRD ECONEFIN EURN EDU ETRDEINVTINTCS ECIP EFIM EAIDS EREL EINVETC ECONCS ETRA EAIG
FR FI FAC FARC FTA FJ FAO FDA FMLN FBI FO FAS FTAA FOREIGN FOR FM FREEDOM FISO FINANCE FINR FOI
GE GOI GM GG GR GT GCC GV GH GOV GA GTIP GY GERARD GZ GAERC GANGS GTMO GL GF GAZA GLOBAL
HO HA HILLARY HYMPSK HR HU HSTC HK HEBRON HUMOR HI HURI HUMAN
IT IR IS IC IAEA IN IZ ICTY ICAO IO IMO INMARSAT INDO IL ID IRS IQ IA ICRC IDA ICJ IV IAHRC IBRD IMF IWC ILO ISLAMISTS IGAD ILC ITU ITF INRA INRO INRB ITALY IBET INTELSAT ISRAELI IRC ITRA IDP ICTR IEFIN IRAQI IPR IIP ITPGOV ITALIAN INTERNAL INTERPOL IEA INR ISRAEL IZPREL IRAJ IF ITPHUM IACI
JO JA JM JOSEPH JP JUS JAMES JOHN JOHNNIE
KJUS KPAO KIRF KDEM KCOR KPAL KNNP KCRM KWMN KIRC KMDR KIPR KWBG KTFN KGHG KE KUNR KMPI KOMC KPKO KSCA KFLU KFIN KSUM KTDB KAWC KRVC KGIC KFRD KISL KTIP KVPR KICC KHDP KCFE KTIA KSEO KCIP KZ KG KWAC KSPR KRAD KPRP KN KS KHLS KTEX KNAR KPLS KGCC KPAK KSTC KFLO KSEP KV KSTH KU KSCI KOLY KIDE KOMS KMCA KACT KHIV KBCT KDRG KBTR KAWK KPWR KFRDCVISCMGTCASCKOCIASECPHUMSMIGEG KRIM KDDG KPRV KTBT KSAF KMOC KBIO KREC KCGC KPAI KFRDKIRFCVISCMGTKOCIASECPHUMSMIGEG KO KVIR KFSC KMFO KID KMIG KGIT KWMM KHSA KX KPOA KNEI KCRS KR KVRP KENV KCRCM KBTS KNSD KOCI KNUP KPAONZ KNUC KNNPMNUC KERG KTLA KCSY KTRD KMRS KNPP KJUST KCMR KTER KRCM KCFC KSAC KCHG KREL KFTFN KCOM KLIG KDEMAF KAID KICA KHUM KSEC KPIN KESS KDEV KWWMN KOM KWNM KRFD KRGY KIFR KWMNCS
LO LE LY LI LA LG LH LU LTTE LAB LOG LT LABOR
MOPS MASS MX MNUC MAPP MARR MCAP MZ MR MO MT ML MA MY MTCRE MIL MD MASSMNUC MU MK MTCR MUCN MEPP MAS MEDIA MAR MI MQADHAFI MPOS MTRE MASC MG MRCRE MPS MW MARAD MC MP MOPPS MTS MLS MILI MEPN MEPI MEETINGS MERCOSUR MCC MIK MAPS MV MILITARY MDC
NZ NATO NSF NL NE NU NK NSSP NI NA NS NPT NO NDP NSC NAFTA NH NV NP NPA NSFO NG NT NW NASA NSG NORAD NATIONAL NPG NGO NR NIPP NZUS NC NEW NRR NAR NATOPREL
OTRA OIIP OPRC OMIG OREP OVIP OVP OSCE OPIC OSCI OEXC OECD OIE OPDC OAS ON OCII OPAD OBSP OFFICIALS ODIP OPCW OES OFDP OIC OCS OHUM OTR OSAC OFDA
PREL PE PGOV PHUM PINS PTER PINR PL PARM PK PM PREF PBTS PNAT PA POL PLN POLITICAL PARTIES PO PHSA PCUL PAK PGGV PAO PSA PGOVSMIGKCRMKWMNPHUMCVISKFRDCA PBIO PAS PGIV PHUMPREL POGOV PEL PROP PP PINL PBT PTBS PG PINF PRL PMIL PALESTINIAN PDOV PRAM PSEPC PROG POV PROV POLITICS POLICY PCI POSTS PREO PAHO PHUMPGOV PREFA PSI PAIGH PARMS PTERE PRGOV PORG PS PGOF PKFK PSOE PEPR PPA PINT PMAR PRELP PNG PFOR PUNE PGOVLO PHUMBA PNR POLINT PGOVE PHALANAGE PARTY PDEM PECON PGOC PY PHUH PF PHUS PU
QA
RU RS RW RP RFE REGION REACTION REPORT RO RCMP ROOD RSO RM ROBERT RICE RSP RF RELATIONS RIGHTS RIGHTSPOLMIL RUPREL
SOCI SENV SY SMIG SA SNAR SW SU SO SP SCUL SZ SR SHUM SARS SF SN SC SIPRS SI SEVN STEINBERG SG SYR SWE SK SH SNARCS SAARC SPCE SNARN SNARIZ SEN SCRS SYRIA SL SENVKGHG SAN ST SIPDIS SSA SPCVIS SOFA SANC SHI
TBIO TU TRGY TW TIP TPHY TS TT TNGD TSPL TH TSPA TD TI TX TZ TC TINT TN TP TBID TF TL THPY TV TK TERRORISM TO TRSY TURKEY TFIN TAGS TR
UK US UNSC UNCHR UN USTR UNHRC UNGA UG UNEP UZ UP UNESCO UNPUOS USEU UNMIK UNDC UY UNICEF UNDP UNAUS UNCHC UNCSD USOAS UNFCYP UNIDROIT UNO UV UNHCR USUN UNCND USNC USPS USAID UE UNVIE UAE UNODC UNCHS UNFICYP UNDESCO UNC
VE VT VM VZ VI VTPREL VN VTIZ VTEG VAT VC
WMO WWARD WHTI WTRO WHO WHA WS WTO WTRQ WBG WFP WB WI WMD WIPO WZ WITH WEU WA
XL XW XS XR XA XM XD XV XK XX XG XY XF XU XI XT XH XB XQ XE XTAG XZ XC
YM YI YE YMCS
ZB ZF ZI ZK ZR ZP ZU ZO ZL ZOELLICK ZJ ZEALAND ZN ZA ZANU

### Browse by classification

CONFIDENTIAL CONFIDENTIAL//NOFORN SECRET SECRET//NOFORN UNCLASSIFIED UNCLASSIFIED//FOR OFFICIAL USE ONLY

### Community resources

Follow us on Twitter Check our Reddit Twitter this Digg this page Contact us on IRC

courage is contagious

### Viewing cable 09BERN350, SWISS REACTION TO UBS AGREEMENT \

If you are new to these pages, please read an introduction on the structure of a cable as well as how to discuss them with others. See also the FAQs
Understanding cables
Every cable message consists of three parts:

- The top box shows each cables unique reference number, when and by whom it originally was sent, and what its initial classification was.
- The middle box contains the header information that is associated with the cable. It includes information about the receiver(s) as well as a general subject.
- The bottom box presents the body of the cable. The opening can contain a more specific subject, references to other cables (browse by origin to find them) or additional comment. This is followed by the main contents of the cable: a summary, a collection of specific topics and a comment section.

To understand the justification used for the classification of each cable, please use this WikiSource article as reference.
Discussing cables
If you find meaningful or important information in a cable, please link directly to its unique reference number. Linking to a specific paragraph in the body of a cable is also possible by copying the appropriate link (to be found at theparagraph symbol). Please mark messages for social networking services like Twitter with the hash tags #cablegate and a hash containing the reference ID e.g. #09BERN350.

Reference ID | Created | Released | Classification | Origin
--- | --- | --- | --- | ---
09BERN350 | 2009-08-20 15:10 | 2011-03-14 06:00 | CONFIDENTIAL | Embassy Bern
Appears in these articles: http://www.letemps.ch/swiss_papers

`

    VZCZCXYZ0000
    RR RUEHWEB

    DE RUEHSW #0350/01 2321510
    ZNY CCCCC ZZH
    R 201510Z AUG 09
    FM AMEMBASSY BERN
    TO RUEHC/SECSTATE WASHDC 6015
    INFO RHMFISS/DEPT OF JUSTICE WASHINGTON DC
    RUEATRS/DEPT OF TREASURY WASHINGTON DC

` `

    2009-08-20 15:10:00	09BERN350	Embassy Bern	CONFIDENTIAL	09BERN68	VZCZCXYZ0000\
    RR RUEHWEB\
    \
    DE RUEHSW #0350/01 2321510\
    ZNY CCCCC ZZH\
    R 201510Z AUG 09\
    FM AMEMBASSY BERN\
    TO RUEHC/SECSTATE WASHDC 6015\
    INFO RHMFISS/DEPT OF JUSTICE WASHINGTON DC\
    RUEATRS/DEPT OF TREASURY WASHINGTON DC\
    	C O N F I D E N T I A L BERN 000350 \
     \
    SIPDIS \
     \
    DEPT OF JUSTICE FOR B.SWARTZ, \
    L/EB FOR K.KIZER AND W.TEEL \
     \
    E.O. 12958: DECL: 08/19/2019 \
    TAGS: ECON EFIN PREL SZ
    SUBJECT: SWISS REACTION TO UBS AGREEMENT \
     \
    REF: BERN 68 \
     \
    Classified By: DCM L.Carter for reasons 1.4(b) and (d). \
     \
    ¶1.  (C) Summary.  President and Finance Minister Hans-Rudolf \
    Merz, Justice Minister Eveline Widmer-Schlumpf, and Foreign \
    Affairs Minister Micheline Calmy-Rey in an August 19 press \
    conference praised the UBS agreement as the only possible \
    solution and a "Peace Treaty."  The Ministers were quick to \
    limit the reach of the agreement to UBS only, although the \
    Justice Minister recognized the agreement could open the door \
    for similar requests from other Swiss banks if those banks \
    committed similar egregious acts like UBS.  Media \
    commentators and political pundits covered a range of \
    opinions from declaring the agreement a true victory for the \
    U.S. to an absolute win for Switzerland.  Unlike the media, \
    local business leaders and the Swiss Bankers Association \
    universally expressed relief that the UBS case was resolved. \
    The UBS case had been a dark cloud over bilateral relations, \
    with concerns it could escalate to a seriously damaging event \
    similar to the Holocaust asset case a decade ago.  Current \
    Swiss opinion indicates, however, that the agreement will \
    mollify all but the most anti-American voices and leave our \
    bilateral relations relatively unscathed. End Summary. \
     \
    ------------------------------------- \
    FEDERAL COUNCILLORS PRAISE RESOLUTION, GOOD BILATERAL \
    RELATIONS \
    ------------------------------------- \
     \
    ¶2. (U) President and Finance Minister Hans-Rudolf Merz, \
    Justice Minister Eveline Widmer-Schlumpf, and Foreign Affairs \
    Minister Micheline Calmy-Rey discussed the resolution of the \
    UBS case in a press conference on August 19.  Widmer-Schlumpf \
    touted the bilateral agreement as the only possible solution. \
     She commented that it was necessary to preserve the Swiss \
    legal system against the unilateral enforcement of US \
    regulations, which could include freezing UBS' US-based \
    assets.  Calmy-Rey called the agreement a "Peace Treaty" and \
    praised the good Swiss connections with the US for making the \
    agreement possible.  While President Merz emphasized that the \
    agreement only applied to the specific case of UBS, Widmer- \
    Schlumpf countered that the tax treaty language "tax fraud \
    and the like" coupled with the recently adopted OECD \
    standards for administrative assistance could open the door \
    for similar requests for information from other Swiss banks \
    if those banks had committed similar egregious acts like UBS. \
     President Merz, who previously expressed regret at UBS' \
    unacceptable actions (reftel), appealed to Swiss banks to \
    respect U.S. laws and the Qualified Intermediary regulations. \
     \
    -------------------------------- \
    NO CLEAR TREND IN MEDIA OPINIONS \
    -------------------------------- \
     \
    ¶3. (U) Media commentators and political pundits covered a \
    range of opinions from declaring the agreement a true victory \
    for the U.S. to an absolute win for Switzerland.  Neither the \
    political persuasion of the papers nor the region of the \
    country defined a clear Swiss opinion about the effects of \
    the agreement.  Newspaper articles ranged from claiming the \
    broader interpretation of "tax fraud and the like" in the tax \
    agreement was the "last nail in the coffin of banking \
    secrecy" to citing legal experts that announced Switzerland \
    had been the clear winner because Switzerland's legal \
    procedures had not been compromised.  Another paper took a \
    completely different approach arguing that even though the \
    agreement was the only tenable solution, it placed undue \
    pressure on Switzerland's governmental system of separation \
    of powers between the Federal Council and the Tax \
    Administration Court. \
     \
    ------------------------------ \
    BUSINESS RELIEVED BY AGREEMENT \
    ------------------------------ \
     \
    ¶4. (C) Unlike the media, business leaders universally \
    expressed relief that the UBS case was resolved.  Swiss \
    American Chamber of Commerce CEO Martin Naville told econoff \
    that the agreement was a positive outcome for two reasons: 1) \
    the agreement was signed under a partnership spirit without \
    the adversarial tone expressed in previous months; and 2) the \
    exchange of information will be in accordance with the double \
    taxation treaty.  He highlighted that political will to \
    ratify the recently revised treaty would not exist if the IRS \
    did not conform to the requirements of the original treaty. \
    Naville expected there to be some domestic policy noise about \
    Switzerland relinquishing its sovereignty and its tradition \
    of bank secrecy, but these opinions would not cloud the \
    positive impact of the resolution. \
     \
    ¶5. (C) Thomas Pletscher, Executive Board Member of \
    EconomieSuisse, Switzerland's largest umbrella organization \
    for Swiss business and industry, echoed Naville's sentiments \
    calling the agreement a "relief."  Pletscher stated that the \
    overall industry response had been positive.  He told econoff \
    that a long drawn out court case posed "a danger of \
    overshadowing" and "seriously damaging" otherwise good \
    bilateral relations.  In addition, the agreement established \
    a procedure to avoid a clash of the two countries' legal \
    frameworks.  Pletscher was not concerned about the agreement \
    breaching Switzerland's banking secrecy.  He stated that the \
    agreement marked the "end of Hollywood's version of banking \
    secrecy" which was always an inaccurate portrayal.  Banking \
    secrecy was designed to protect individual privacy, not to \
    hide criminal conduct. \
     \
    ¶6.  (C) The Swiss Bankers Association's Head of U.S. Affairs \
    Heinreich Siegmann reiterated the relief that the complicated \
    matter had been resolved amicably and within the Swiss legal \
    framework.  Siegmann informed econoff that maintaining the \
    stability of Swiss law was crucial to the continuing success \
    of the Swiss financial center. \
     \
    ------- \
    COMMENT \
    ------- \
     \
    ¶7.  (C)  Post expects that the UBS case will provide the \
    Swiss media fodder for claiming the U.S. bullied Switzerland \
    into an agreement that marks the demise of banking secrecy, a \
    national heritage.  However, Swiss government and business \
    leaders generally view the agreement as a mutual compromise \
    that protects Swiss sovereignty while enabling the U.S. to \
    enforce its tax laws.  The UBS case was a dark cloud over \
    bilateral relations, with concerns it could escalate to a \
    seriously damaging event similar to the Holocaust asset case \
    a decade ago.  Current Swiss opinion indicates, however, that \
    the agreement will mollify all but the most anti-American \
    voices and leave our bilateral relations relatively unscathed. \
    BEYER \

`