Switzerland's parliament has rejected a deal with the US on the data transfer of banking giant UBS's American customers suspected of having evaded taxes.
Lawmakers of the lower house of parliament voted against the deal, with 104 votes against and 76 in favour, following a debate broadcast live on Swiss television.
Switzerland, the US and UBS had agreed in August that the bank would reveal the identities of about 4,450 American clients in a landmark out-of-court settlement for a US tax evasion case which challenged Switzerland's sacrosanct banking secrecy.
But the deal had to be put to parliament after a Swiss court ruling earlier this year called its legal basis in Switzerland into question.
The deal came after a US government lawsuit filed earlier in 2009, which sought to force the Swiss bank to identify Americans holding offshore bank accounts to evade taxes. The case could have affected as many as 52,000 Americans who held UBS accounts.
After today's vote, the deal will return to the senate, which last week approved the deal. Depending on the upper house's decision, the accord could then be put forward again to the lower chamber.
To secure a deal, a compromise would have to be found with the country's biggest party - the far right Swiss People's Party - as well as the Socialist Party, both of which have set conditions for their support.
The People's Party said its vote would be secured if taxes on bonuses in the banking industry were rejected, and if the government's authority on signing future accords with states were limited. Socialists meanwhile are asking for the opposite - a tax on wages and bonuses above one million Swiss francs (€720m), as well as regulations on banks' capital.
