(Reuters) - Switzerland hopes to restart talks with the U.S. over a long-simmering tax dispute following the re-election of president Obama, its economy minister was quoted as saying on Sunday. Switzerland is trying to reach a deal to end investigations by U.S. tax authorities into 11 banks, including Credit Suisse (CSGN.VX) and Julius Baer (BAER.VX), suspected of helping clients dodge U.S. taxes with the help of offshore bank accounts. It needs the tax deal so that it can normalise its banking relations with the United States and wants the investigations dropped in return for the payment of hefty fines by the Swiss banks and the transfer of names of thousands of U.S. clients. "We are seeking clarification quickly," Johann Schneider-Ammann told the Zentralschweiz am Sonntag newspaper. "The situation has been blocked recently. That must now change." The talks had stalled in the run-up to the U.S. election, and finance minister Eveline Widmer-Schlumpf has suggested the ball is firmly in the U.S. court. The two countries are at odds over U.S. demands for Switzerland to hand over bank data from before 2009. In a separate interview with the BaslerZeitung at the weekend, Credit Suisse Chairman Urs Rohner said the unresolved tax deal was a burden. "We are doing everything that we can and may to resolve the problem. But in the end there is a need for a solution that all involved will have to agree to."

Fascinating report, jenniferh00.

You can sense the desperation of the Swiss banking community, as their ability to protect the "interests" of their client base is increasingly questioned for what it is - complicity in international fraud and deception.

Given how the practice has enriched the country massively over the years - let's not forget the years 1942 to 1945, as well as the more recent money-laundering operations for people that you and I could name today - they will not let go without a fight.

That is what Australia needs as well the names etc of people from here that have put there money into tax havens to avoid tax here.

The worldwide estimate for how much is hidden away in various tax haven is from a minimum of $21 TRILLION dollars up to possible $32 TRILLION dollars meanwhile the average PAYE taxpayer has to compensate for these greedy SOB's.

Australian Government does not have the muscle to get the records from the banks or does not want to because they know who has the money hidden there. (friends or accomplices)