Germany may lose out, says a top Swiss banking official, in case Berlin does not vote in favour of a deal that is meant to end tax evasion tensions running since long with Switzerland. Claude-Alain Margelisch clearly states that a tax deal veto means loss of money by the German state.

Claude-Alain Margelisch is the Swiss Bankers' Association's head, who has told that German assets have been parked in accounts with Swiss bank. He says that the proposed tax deal has some terms between Bern and Berlin.

And under the same, taxes could be deducted from German clients, thereby being transferred in the form of tax revenues to Berlin. The same would allow the clients to stay anonymous.

However, the lower house of Germany has approved the deal. But, the report finds that there is a risk to the same, when it goes before the Bundesrat i. e. the upper house. Since, the opponents are of the view that the deal is not much strict on tax-dodgers.

Wolfgang Schaeuble, German Finance Minister, has made estimation that in terms of tax payments, the agreement may claim around 10 billion euros from the country. "As long as the agreement was not signed, there would be a problem clearly for Germany", said Margelisch.