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Tuesday, November 30, 2010

No Singapore exit for Swiss bank clients

Forexyard, 30 Nov 2010ZURICH/SINGAPORE, Nov 30 (Reuters) - If rich Europeans shift cash to Singapore, the Switzerland of the East, to avoid the deals the Swiss have struck with neighbours on banks' undeclared client assets, they should know the taxman won't be far behind.After yielding to sustained global pressure on tax havens and relaxing its prized bank secrecy, Switzerland has agreed deals