Die Welt: The Greek Gov’t Ignored 800 Bln In Black Money Transferred to Swiss Banks


“The Greek government has done nothing for a year to recover supposedly untaxed assets of Greek citizens in Switzerland. There is an invitation extending from 2014 by the Swiss Secretariat for International Financial Matters (SIF) to track the money and transfer them to Athens,” the German newspaper Die Welt pressed earlier today, accusing Athens for ignoring the black funds hidden in Swiss bank accounts.

The Greek government can benefit from assets worth billions of euros in taxation, currently in Swiss banks, the report underlines. The Swiss agency confirmed that Greek Finance Minister Yannis Varoufakis as well as his predecessors had never replied to the Swiss authorities’ invitation.

According to statistics emerging from the Swiss central financial institution, the Greek deposits in the country’s banks reach 800 billion euros — a figure recorded at the end of 2013. At the same time, much of the interest earned must have also remained untaxed, the German newspaper highlights, as this was for many years the standard for foreign clients who moved their money in Swiss bank accounts.


  1. 1 trillion in the banks and 40 billions in the mattresses…11 million Greeks are the richest people in the world so they don’t need the EU banks to rob them

  2. Exactly BECAUSE Samaras was in power. His government had the ability to reply to the request, not the greek people or opposition.

  3. I think this is from the list Christine Lagarde head of the IMF handed to the last government last year on which a few names were scribbled off. Tsipras was hammering them in parliament when he was in opposition. The prosecutors must be on it. This article is a ploy for the German public so that Merkle and Schauble can say that their voters are against the Greek government.

  4. Sorry to dissapoint you folks. THe article in german talks about 800 million. Otherwise it´s the usual Die Welt smear piece about the ” lazy Greeks”. Nothing to see here…
    Additionaly, the Swiss banks move so slowly to look into such allegations that the greeks might have put this on the back burner trying to deal with pressing needs. Switzerland is making overtures because thwy have to comply with OECD guidelines in order to get out of a blacklist of Tax Havens.

  5. I would add that what is embedded in Greek culture is a reaction to historical events eg a Ottoman rule, occupation during WW2, civil war, military junta… a sort of collective trauma that leaves the population literally “traumatized,” ie afraid of being re-victimized and appearing to the outsider as somewhat paranoid, exhibiting victim behaviours such as blaming others, unable to see the views of others. With time and good leadership, openness to others, healthy assertiveness, Greece will find it’s way.

  6. But peoples listern histories about taxes and ..and all this false news
    is just brain wash the real game is just take control in Greece national companies gold natural resources island and more….ONLY NATIONAL MONEY DRAXMES can help in this game the game over default and back to national money kick the Euro and all problem resouvles!!in 1-2 yers …but if we contion the helping program from EU until 2020 more thet 500billion dept will be ??so quation is they help Greece or just killing Greece and Democracy??

  7. Why do you Greeks feel like you own democracy and that it is being killed here? Your early form of democracy is no different than a vote in the party in China…and if you really wanted democracy, you would let the whole of Europe vote, not just the Greek citizens – after all, it is Europe’s money that you greedy people want. And apparently you want it without doing anything in return, without changing your ways of allowing tax evasion, etc. and simply living way beyond your means.

    I am sure that somehow if that were to happen, you wouldn’t be so fond of your “democracy”.