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.
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.
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…