Swiss set up committee to stifle Italy tax row
* Swiss want to stop situation from escalating
* Swiss FinMin says tax talks won't resume while amnesty runs
ZURICH, Nov 4 (Reuters) - The Swiss government has set up a working group charged with finding ways to stifle a bitter tax row with the Italians that escalated after Rome raided 76 Swiss banks in Italy.
Italy aims, through a generous tax amnesty, to capture billions of euros of undeclared money hidden at Swiss banks.
The move poses a specific threat to banks in the Italian-speaking canton of Ticino, where more than 200 billion Swiss francs ($195 billion) of Italian money is held.
"The aim of the working group is to stop a further escalation of the situation," Swiss Finance Minister and President Hans-Rudolf Merz told a press conference on Wednesday.
"We do not want to start a "war" against Italy. We want to and must find a solution."
Switzerland summoned the Italian ambassador to Berne for an explanation after the raids on the banks. [ID:LS725977] Continued...
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