Once again, I’m looking for a source for a quotation; this one was ascribed to the sixteenth-century English jurist Lord Coke. As usual, no prize for the correct answer.

The quotation: “Law, logic and the Swiss will fight for any cause if well-paid.”

Well, even if only indirectly paid, by avoiding fierce penalties on their US banking operations, the Swiss have decided to fight for the cause of ending offshore tax evasion, by signing Model 2 of the FATCA Intergovernmental Agreement propounded by Treasury. And they did it today, February 14, a Valentine’s Day present to the gang at 1111 Constitution Avenue, N.W.

So Treasury felt entitled to a wee gloat: “Today’s announcement marks a significant step forward in our efforts to work collaboratively to combat offshore tax evasion,” said Acting Secretary of the Treasury Neal S. Wolin. “We are pleased that Switzerland has signed a bilateral agreement with us, and we look forward to quickly concluding agreements based on this model with other jurisdictions.”

If Switzerland has signed, can Italy be far behind? Treasury says the Italian government and Treasury initialed an IGA on January 24.

Now let’s get the Caymans, the Cooks and Luxembourg on the roster.