Swiss say goodbye to banking secrecy

Hey Guys,

Read an article stating at Switzerland has recently signed a treaty which forces the country to share details of its banking clients from certain countries and vice versa

Switzerland apparently had little choice as they did not want to lose their status as a financial hub but the Swiss have been known to be a safe haven for rich (and sometimes shady) individuals to park their money at and this move would definitely raise risks of losing that status.

What are your thoughts? Would this affect banking at Switzerland? Or perhaps even globally?