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Swiss police on Wednesday staged a dawn raid on a Zurich hotel and detained six top football officials as part of a US investigation into tens of millions of dollars of bribes, Swiss authorities and media reports said. All six could be extradited to the United States with the shock arrests coming only two days before FIFA president Sepp Blatter seeks reelection as head of football's world governing body in a campaign overshadowed by scandal. Swiss police, meanwhile, raided the headquarters of FIFA in Zurich, seizing documents and data, the Swiss attorney-general's office said.
The European Union and Switzerland signed a major accord Wednesday that will end banking secrecy for EU residents and prevent them from hiding undeclared income in Swiss banks, the European Commission said. The agreement deals "another blow against tax evaders, and (represents) another leap towards fairer taxation in Europe," said Pierre Moscovici, the EU commissioner for tax issues. Moscovici signed the accord, which takes effect in 2018, along with Jacques de Watteville, the Swiss secretary of state for international financial matters and Latvian Finance Minister Janis Reirs, whose country currently holds the EU presidency.