Hans-Rudolf Merz, finance minister and Switzerland's head of state this year under its rotating presidency, defended the Swiss government's role in prompting the world's biggest wealth manager to breach hallowed bank secrecy and last week reveal some 250-300 client names to the US.
But Mr Merz, speaking in a weekend radio broadcast, said the disclosure last week of a limited number of account holders suspected of tax fraud did not mean UBS, or the Swiss government, would bow to a separate US drive to identify all the bank's American clients with offshore accounts in Switzerland.
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