Switzerland

European economy 23rd March 2023

Switzerland has a problem: its banking system is 4.5 times its GDP

Scope Rating | The unprecedented and last-minute deal, to be completed in the coming weeks, should help contain the financial cost of stabilising the hard-pressed Credit Suisse for the Swiss Confederation and also contain potential spillovers to the wider Swiss economy. The developments highlight the long-standing risks to the economy stemming from the banking system, given its large size relative to the Swiss economy and annual budget. Total assets of…

In Europe 11th June 2018

Vollgeld: Switzerland Votes “No” To Limiting Emission Of Money To National Bank

The Swiss population has rejected in a referendum on Sunday, with 74% of votes against, the popular proposal that would have limited the “creation” of money only to the National Bank of Switzerland.

In Europe 20th May 2014

Norwegian Immigration and Europe’s Swiss Dilemma

At first glance, Norway and Switzerland seem to have much in common. Both are prosperous alpine nations with relatively small populations (5.1 million and 8 million), while they also have some of the lowest unemployment levels in Europe (3.6% and 3.5%). In fact, both nations are enjoying tremendous success amid turbulent economic times. Norway , however, will not seek to emulate Switzerland’s policy on immigration quotas.

In Europe 29th November 2011

Spain could raise €200mn from the wealthy’s Swiss accounts

Digital news website El Confidencial on Tuesday published an article about the effect the so-called Rubik Plan would have on the Spanish budget. This is a bilateral agreement to lift banking secrecy in Switzerland, which would allow hidden account holders in the country to pay taxes anonymously in Spain. The conclusion of experts is clear: the amount collected thanks to this measure would barely exceed €200 million, a somewhat tiny…