Swiss decry EU 'discrimination' over financial market access

Save Story
Leer en español

Estimated read time: Less than a minute

This archived news story is available only for your personal, non-commercial use. Information in the story may be outdated or superseded by additional information. Reading or replaying the story in its archived form does not constitute a republication of the story.

GENEVA (AP) — The Swiss president is accusing the European Union of "discrimination" over a decision to only grant the country's financial market participants a one-year extension to the 28-country bloc.

Doris Leuthard insists Switzerland has met the criteria to get "indefinite" access to the EU's financial markets, as Australia, Hong Kong and the United States did.

Instead, Switzerland was only granted a one-year extension through 2018.

The EU said it will review bilateral accords with Switzerland before deciding whether to renew it.

Leuthard said the Swiss executive council, at an extraordinary session Thursday, decided it believed the EU move aimed "to weaken the Swiss financial marketplace."

She said the council wanted to "respond," and has launched an effort to strengthen Switzerland's financial marketplace.

Copyright © The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Most recent Business stories

Related topics

The Associated Press


    Get informative articles and interesting stories delivered to your inbox weekly. Subscribe to the Trending 5.
    By subscribing, you acknowledge and agree to's Terms of Use and Privacy Policy.

    KSL Weather Forecast