Criticism does not take reality into account. I consider the conclusion of negotiations between the EU and Switzerland on savings taxation to be generally positive (see our bulletin of 20 May, page 9, in particular). Those expressing reticence mainly have three criticisms to make: a) Switzerland is able to keep, and will keep, the practice of bank secrecy; b) Swiss banks could easily not apply withholding on interests on Union citizens' deposits by attributing these deposits to third country...