…might get banned:
(sorry only german)
there is some trouble with bilateral treaties between switzerland and EU. maybe some of the finance people here can say more?
Funnily enough, I read about this on a Polish website. Basically they say that the EU pushes Switzerland to accept European Court of Justice as superior court over the Swiss one. If they don’t do it, then the EU will stop recognising the Swiss Stock Exchange, so the EU citizens would not be able to trade there. That’s half of the trade on the SIX.
Looks like the EU is playing bully against Switzerland, and not for the first time. It’s harder and harder for Switzerland to stay independent from the EU. That’s why we had this referendum proposal from SVP, which lost. I guess sovereignty comes in a bundle with isolationism.
EU countries are overrun by socialist policies, they try to equalise everything and bring “fairness” to everyone. I hope Switzerland can resist this trend.
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Hello Bojack
you or your polish source mixed a bit two problematic.
The vote about the European Court of Justice is not directly linked with the trouble of the Swiss stock exchange. It is a problem on the side which seems to be solved after the decision of the Swiss people last Sunday.
The problematic of the European Union is that there is an complex set of bilateral agreement between Switzerland and the EU. The EU would like to have a framework agreement which would adapt itself to new EU regulation. The progress is slow and the only idea of the EU is to bring discrimination over stock exchange in order to push the Swiss government toward the solution of the framework agreement.
The problem is that many countries without any agreement have access to EU stock exchange and as Swiss I see this like a discrimination of close friend respective to less friendly countries.
I agree with you, the policy of the EU will equalize excessive debt of their members states.
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Well, here an article in English with better information than the garbage newspapers you find in the Swiss railway stations.
Swiss act to protect Swiss stock exchange
It will be interesting to see how it develops in the future.
Luckily ETF under Irish or Luxembourg law are not affected yet.