http://www.nytimes.com/2009/03/14/business/worldbusiness/14tax.html?em i had more faith in the swiss than this. a week ago there was talk of changing laws and getting revenge now they completely flip- they must be in WAY more trouble than anyone imagines to buckle on this. either that or i am reading too much into it
Maybe swiss investors were already fleeing the country like crazy. Those deposits don't have any loyalty, they'll go where the most secrecy is. Maybe switzerland is trying to get a compromise. In fact look at how much CHF is depreciating.