A new Barrie McKenna piece is up at the G&M website.
Conspicuously absent from the statement was Canada.
Finance Minister Jim Flaherty said the U.S. announcement “appears to demonstrate an interest in greater joint government collaboration to address such concerns.”
He also said Canada would “continue to work with our American counterparts toward an approach acceptable to both our countries.”
Finance Department spokeswoman Mary Ann Dewey-Plante would not say if Canada is willing to agree to the same terms as the Europeans. “We are continuing to discuss a solution to this situation with the U.S.,” she said. “When we have one, we’ll say more.”
In a statement, the Treasury department said the offer is not an exemption from FATCA, but provides a way for foreign financial institutions to deal with their own governments.
The Canadian Bankers Association said it’s hopeful the European deal will be made available to Canada.
The FATCA “deal” with the European 5 is clearly not the end of the story. Here’s a story that sees problems with it