CREDIT Suisse Group ... has agreed to pay $2.6 billion in penalties after pleading guilty to charges of criminal wrongdoing brought against it ... in the United States. The charges of aiding tax fraud ... reflect the deep malaise that afflicts the Swiss banking system, which, on the plea of guaranteeing secrecy, has allowed all sorts of wrongdoing by its customers.... ...

... The Bharatiya Janata Party ... had made an electoral promise to crack down on the secret accounts maintained by Indians in Swiss banks. A good start ... would be to send out a firm and clear message to the Swiss authorities that they need to put an end to all their banking malpractices.... — (May 22)

Published in Dawn, May 26th, 2014