With all the gloom that has descended on Switzerland after the sharp rise in its currency, it is nice to be reminded of its economic strength. Goods exports excluding services for 2014 grew 3.5% to reach a record 208 billion francs, surpassing 2008’s record of 206 billion. To give this context, Switzerland’s goods exports alone […]
Switzerland – staring down the barrel of deflation
The recent rise in the Swiss franc is driving deflation in Switzerland. The prices of imported goods are declining and there is talk of reducing salaries in some corners. Deflation is bad for an economy, particularly for the heavily indebted – your mortgage remains the same even if your salary declines and Government debts increase […]
Making products speak Human Rights
Delivering human rights is abstract and hard to measure however, what if you could see the human rights history of a product before you bought it? The founder of the Swiss clothing company Switcher has created such a system. Respect Code, his novel track and trace system allows consumers to see the source and history […]
The Swiss introduce their version of a 35-hour week
On 27 January 2015 the Swiss government announced that Swiss companies could reduce their wage bills by cutting staff working hours and compensate them for the lost pay with partial unemployment benefits. The objective of the measure is to limit layoffs brought about by the rapid rise of the Swiss franc. Companies are required to […]
Where the top 1% live – Switzerland leads
There was much talk of inequality at this year’s World Economic Forum in Davos. It is ironic then that the host country Switzerland has the greatest percentage of residents in the top 1% of the world’s wealthiest. Over 13% of Swiss are in this group, the highest proportion in the world according to the Credit […]
Who is the man behind the World Economic Forum in Davos?
The World Economic Forum in Davos, which opens on 23 January 2018, has been running since 1971 but who started it? It is the brainchild of German-born Klaus Schwab. Schwab, born in Ravensburg Germany in 1938, trained as an engineer at the Swiss Federal Institute of Technology (ETH) in Zurich, before training as an economist […]
Basel airport might be saved from French taxes
Last week in Davos, French foreign minister Laurent Fabius and Swiss Federal Councillor Didier Burkhalter agreed a way forward on discussions over the taxing of Swiss businesses at Basel-Mulhouse-Freiburg airport. The airport is a French-Swiss public sector body based on French soil and governed by a convention agreed in 1949. Over the years France has […]
Anti-austerity party Syriza set to win Greek election
The latest exit polls show the radical leftist party Syriza in the lead with over 35% of the votes. Syriza has talked of halting austerity and renegotiating the country’s debt which stands at 175% of GDP. In addition, the right-wing Golden Dawn party could possibly take third place. Some market commentators have said that if Syriza […]
Switzerland ranked the world’s most affordable country
In a survey of 119 countries, Switzerland ranked at the top of the Local Purchasing Power Index with a score of 147. The 2015 index was calculated recently by Numbeo the world’s largest database of user-contributed data about cities and countries. Someone in Switzerland on an average wage can buy 47% more typical goods and […]
Big losses for the Swiss National Bank
After the recent increase in value of the Swiss franc, foreign currencies held by the Swiss National Bank (SNB) will now be worth less in Swiss franc terms. In the case of Euros around 17% less than before. This decline in value will drive a loss. It is not possible to calculate the actual figure, however […]
