SwissBanking
The online magazine of the Swiss Bankers Association
April 10, 2018

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No unnecessary experiments please!

No unnecessary experiments please!

On 10 June we will be voting on the sovereign money initiative. This initiative is a dangerous experiment that must be rejected categorically. Together with economiesuisse, the SBA is taking a stance against the initiative, and therefore working to support our tried and tested monetary system.
Claude-Alain Margelisch
by Claude-Alain Margelisch, CEO-Advisor, former CEO

In an interview with insight, Martin Scholl, CEO of ZKB, highlights how dangerous a switch to sovereign money could be and explains the consequences for private and SME customers if the initiative were to be adopted.

If the EU continues to fuel difficulties on the issue of recognition of the equivalence of Swiss financial market regulation, we will also be facing a threat of adversity from abroad. As an open and export-oriented country, Switzerland must preserve  the bilateral path – which, as an export sector, applies to an even greater extent for banks. In this issue of insight, ambassador René Weber explains our financial centre’s current competitive situation, and where improvements are necessary and possible. Fortunately, the promotion of the international competitiveness of the financial centre is also a priority for the Federal Council. One of its measures to this end is the planned abolition of stamp duty.

This issue also explores the Swiss RegTech landscape, examines the Brunetti recommendations regarding cybercrime and analyses Swiss private banking in international comparison.

I wish you an enjoyable read.