Basel / Lucerne, 17 June 2009 – On Tuesday, the Swiss Bankers Association
(SBA) invited representatives of the Schweizerischer Gewerbeverband (Swiss Small Business
Association) and Swissmem (Federation of Swiss Machine, Electrical and Metalworking
Industries) to discuss possible solutions to the current situation prevailing on the Swiss credit
market. The meeting aimed primarily at promoting a mutual understanding and collaborative and constructive
dialogue. The current situation, including potential solutions, were analysed and developed in keynote
presentations by representatives from academia, government, finance and trade and industry. One highlight
was an open debate on the perspectives and challenges facing the financing of trade and industry in
Switzerland.
These contributions were followed
by a collaborative debate in which current expectations were formulated and findings summed up as the
basis for recommending possible courses of action.
One
of the conclusions drawn by the SBA was that the credit markets are basically in good
condition and that there is no indication of a general credit shortage. Furthermore, although
individual companies are affected by the credit crunch, individual cases cannot be taken as representative
of the credit market as a whole. According to currently available statistics and survey findings, there
is no indication of there being a trend towards a credit shortage.
The
Swiss Small Business Association shared this view, stressing there was no general credit shortage and
advising against any activism on the part of the state. Given the uncertain future course of the economy,
the Association believes it is important to continue monitoring the situation on the credit market and
to continue the dialogue with the financial sector.
Swissmem
took a significantly more pessimistic view of the situation on the credit market. Not only was it concerned
about the present situation, but it was particularly worried about the possible course of future developments.
Swissmem feared that should a long and persistent recession set in several large firms as well as SMEs
dependent on exporting could get into financial difficulties.
Participants
agreed to continue monitoring developments closely – in the interests of all those affected – and to
maintain a dialogue between the financial sector and trade and industry. Any necessary preparations
should be made early so that effective action can be taken immediately should problems arise.
Host
Urs Ph. Roth, CEO of the SBA, called on all participants to engage in active and open
communication based on trust in both good and bad times. The other representatives also supported
this approach and came out in favour of constructive cooperation between trade and industry
and the banks.
Media information
Specialist
presentations were held by:- Prof. Silvio Borner,
Dean, Faculty of Economics, University of Basel
- Prof. Aymo
Brunetti, Head of the Economic Policy Directorate, State Secretariat for Economic Affairs (SECO)
- Urs
Peter Gauch, Managing Director, Head of Special Businesses & Corporate Products, Credit Suisse
- Dr.
Patrik Gisel, Deputy Chair of the Executive Board, Raiffeisen Switzerland
- Dr.
Rudolf Horber, Chief Economist, Schweizerischer Gewerbeverband (Swiss Small Business
Association)
- Martin Huber, Chairman of the Board, Georg
Fischer AG and Member of the Executive Committee, Swissmem
- Dr.
Bertrand Rime, Director, Financial Stability, Swiss National Bank (SNB)
The
programme for the event can be found here.
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| Thomas Sutter |
James Nason |
| Head of Communications Switzerland |
Head of International Communications |
| Tel. +41 61 295 92 06 |
Tel. +41 61 295 92 15 |
| Fax +41 61 272 53 82 |
Fax +41 61 272 53 82 |
 www.swissbanking.org |
www.swissbanking.org |
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