Swiss finance minister Eveline Widmer-Schlumpf said that the country plans to start settling disputes with Europe regarding its Swiss bank accounts hidden from European tax authorities.

According to the ATS news agency, Widmer-Schlumpf said: "We want to reach an overall deal with the EU. Switzerland is pushing for a framework that would pave the way to full negotiations on bilateral deals to settle the past with all of the important EU countries."

He added that Switzerland has to rapidly move towards the automatic exchange of banking data.

As part of the move, Swiss banks are refusing such money, and Bern has been working hard to make the required changes.

Switzerland has recently entered into an agreement allowing Washington to blow its banks with massive fines for past offenses.

Widmer-Schlumpf said:"Uncertainty about the rules is the worst situation for the Swiss financial sector and economy."

However, according to the documents obtained by AFP, Switzerland continues to be listed as tax havens in a new OECD ranking and has failed to make a two-stage assessment on how well 50 jurisdictions comply with rules on tax transparency.

The other countries that also did not make the second stage assessment include Panama, the Marshall Islands and Trinidad and Tobago.