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The Swiss Times’ Weekly Review

  • By The Swiss Times
  • 22 June 2023
Here is The Swiss Times’ review of the top news, stories and issues to follow in Switzerland from June 16 – 23. 
The Swiss Times’ Weekly Review
Swiss President Alain Berset announcing his resignation on June 21 in Bern (Keystone SDA).
The ‘Pandemic President’ resigns

Affairs, lawsuits, and Covid criticism: Alain Berset’s reign as the president of Switzerland has been far from boring. This week he announced his resignation. In his time as Federal President, Berset found himself surrounded by indiscretions, including an ongoing investigation into whether his office leaked information about pandemic measures to Swiss media. Read more.

The Swiss Times’ Weekly Review
Swiss voters on Sunday decided the fate of Covid, tax and climate laws (Keystone SDA).
Vote: Covid measures, climate and tax laws adopted

Swiss voters on Sunday had the chance to decide the fate of three issues facing the nation: a proposed minimum tax rate for international companies in Switzerland, a ban on fossil fuels to meet certain climate objectives and the controversial extension of current Covid-19 emergency laws. Voters approved all three measures. Let’s take a deeper look at what this means for Switzerland. Read more

The Swiss Times’ Weekly Review
UBS officially absorbed Credit Suisse and now the mega-bank takes on its debts (Keystone SDA).
UBS picking up the tab from CS’s Archegos failure

UBS this month officially took over Credit Suisse which means the mega-bank has also taken on the failed bank’s debts and lawsuits. UBS could face hundreds of millions of dollars in fines over CS’s $5.5 billion failed venture with Archegos. U.S., U.K. and Swiss authorities completed their investigation into the collapsed hedge fund this week. Read more.

The Swiss Times’ Weekly Review
Switzerland’s financial commitment to R&D is what keeps it going (SwissTech).
How Switzerland remains a major research hub

Despite its diminutive size, Switzerland remains a major contender in the research and development world because it invests heavily in innovation. In 2021 Switzerland spent roughly $2,551 per resident on research and development — almost twice as much as the OECD average. In terms of GDP, Switzerland invests around 3% in R&D, which is why innovators are continuously drawn to the Alpine nation. Read more

The Swiss Times’ Weekly Review
Protestors in front of Credit Suisse’s Zurich headquarters in March, 2023 (Keystone SDA).
SNB: The lessons we learned from CS’s collapse

The Swiss National Bank revealed this week the three lessons it has learned in the collapse of Credit Suisse and how the financial institution plans to prevent another banking crisis. Should the SNB adopt new measures based on the lessons, it could help another systemically important bank take sufficient corrective action to recover from a near-collapse on its own. Read more

Join us next week for more Swiss news, culture, and issues to watch.

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