"GENEVA (AP) â The Swiss government announced Wednesday that it will let banks circumvent the country's strict client secrecy laws as part of an effort to end a long-running tax evasion dispute with the United States." http://news.yahoo.com/swiss-let-banks-lift-secrecy-us-tax-deal-120848069.html I'm not an economist, just a trading engineer. Can someone enlighten me as to what leverage the US has over Switzerland? The Swiss tradition of banking secrecy is centuries-old. What's changed that would make them modify their old tradition?