February 18, 2014 / 12:15 PM / 4 years ago

Swiss banks already barred from selling to Italians-minister

BRUSSELS, Feb 18 (Reuters) - Swiss banks were banned from selling products to Italian clients already before the Alpine country voted to curb immigration, Italy’s Economy Minister said, rejecting suggestions that Rome was toughening up its stance against Switzerland after the vote.

Swiss Diplomat Jacques de Watteville said late on Monday Italian officials had made it clear to their Swiss counterparts they would block Swiss banks from selling retail products to Italians unless Berne ensures the free movement of people between the two countries.

But outgoing Italian minister Fabrizio Saccomanni said Swiss banks are already barred from selling these products in Italy as Switzerland is on an Italian ‘black list’ of countries that do not fully cooperate in the fight against tax evasion. (Reporting by Francesco Guarascio; Writing by Lisa Jucca)

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