For weeks now the liberal world media dutifully has been repeating dire threats against so-called “tax havens” from the big spending, high taxing, anti-tax competition likes of Germany’s Merkel and France’s Sarkosy.

Austria is justifiably famous for its banking system—particularly for its bank secrecy law, which has the same legal status as the Austrian Constitution. But while Austrians take their financial privacy very seriously, there’s another aspect of Austria that doesn’t get as much attention: residence.

Swiss banks are being targeted by EU officials desperate to blame someone for this financial crisis. But Bob Bauman says the country is strong enough to resist external calls to reform its bank secrecy and tax laws.

There was a knock at the door. A soldier entered the room and raised his arm in salute. Then he drove his boot heels together to produce a loud snap. He waited for the politician’s attention…