(The United States and Iran do not share banking relations, so cashing the check in Tehran might have been complicated).
A vote last month against the agreement to share banking data illustrated to Mrs. Clinton, among others, how issues like privacy — which are often politically sensitive in Europe — are likely to become more important in the making of policy.
As regulators clamp down on money flows around the globe, governments, even those that prided themselves on the strength of their secrecy laws, like Switzerland, are facing pressure to share banking information and change their policies.
It comes shortly after Switzerland signed a tax deal with France, in which it agreed to share banking information upon request with France's tax authorities as of Jan . 1 , 2010
Even though the tax transparency debate has now shifted to Europe, it was largely set off by Washington's determination to stop Americans from evading taxes and to force Switzerland and other European nations to share banking data relating to American clients.
This way, customers will be able to receive payments and share banking information with their utility providers just like they would with a regular Barclays or Lloyds account.
