A newly-created police unit in Düsseldorf has spent months investigating Luxembourg banks and their German subsidiaries on suspicion of helping clients evade tax and launder money, triggering a wave of raids on Tuesday.
Germany will prosecute tax fraudsters using stolen data it bought about its citizens who secretly deposited assets in HSBC bank in Luxembourg, the <i>Financial Times Deutschland</i> will report Friday.
German Chancellor Angela Merkel moved Wednesday to silence fears of a eurozone break-up, saying that although some members faced tough challenges, Europe's paymaster would not desert them.