Tue, May 31, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Swiss vote on immigration may not affect the Swiss financial services industry significantly

Tuesday, February 11, 2014

Benedicte Gravrand, Opalesque Geneva:

Swiss voters on Sunday approved a restriction on immigration and a return of tighter quotas, overturning the Swiss-EU agreement on freedom of movement; the country must now renegotiate this treaty with the European Union.

In fact, Switzerland can expect all of its treaties with the EU to be reviewed, Martin Schulz, the president of the European Parliament, was reported as saying.

"You can’t take advantage of a big European internal market and stay outside in other questions at the same time," he stated. "This is what we have to discuss with Switzerland now."

Indeed, Switzerland, although not a member of the European Union, had adopted large sections of EU policy through bilateral agreements, which took years of negotiation to achieve. It is thought that forsaking free movement could eventually limit its access to the single market.

According to the BBC, last year 80,000 new immigrants arrived in Switzerland, and foreigners now make up 23% of the population. The small alpine country is the second highest foreign population after Luxembourg.

What will the new immigration quota mean for the Swiss financial industry?

Back to pre-EU treaties Some insiders believe it is really too early to s......................

To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing


  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Americas - Australian banks sending U.S. hedge funds broke, Ryan Puerto Rico ‘rescue’ bill could be windfall for hedge funds[more]

    Australian banks sending U.S. hedge funds broke From SMH.com.au: US hedge funds are not having the best of years. Profits are hard to find, they're underperforming and the punters are losing patience, withdrawing US$15 billion ($20.8 billion) in the March quarter. They're expected to wit

  2. Investing - Billionaire Wilbur Ross likes the look of Chinese bad loans, Hedge funds are still relevant in a diversified portfolio: 4 fundamental criteria for superior manager selection[more]

    Billionaire Wilbur Ross likes the look of Chinese bad loans From Bloomberg.com: U.S. billionaire Wilbur Ross said he’s considering investing in nonperforming loans in China, as Moody’s Investors Service said that the nation has the tools to prevent a financial crisis in the near term. I’

  3. Investing - Blackstone gives pricey Canadian energy and property thumbs down, One of the most concentrated hedge fund bets is getting crushed, Facebook is hedge funds' new tech darling,[more]

    Blackstone gives pricey Canadian energy and property thumbs down From Bloomberg.com: Canada’s energy assets are uneconomic and real-estate markets overvalued, making them less attractive for investment than in the U.S. and elsewhere, according to Tony James, president of Blackstone Group

  4. Study - Only 30% of institutional hedge fund portfolios beat the benchmark[more]

    Bailey McCann, Opalesque New York: A new study from CEM Benchmarking, an independent provider of cost and performance analysis for pension funds, shows that only 30 percent of institutional investors hedge fund portfolios beat the benchmark after fees. The study provides in depth analysis of real

  5. Opalesque Exclusive: $1bn hedge fund club grows to 668 managers, continues to dominate (Part One)[more]

    Komfie Manalo, Opalesque Asia: Despite an underwhelming 2015 and a slow start to 2016 in terms of performance, one group of managers that continues to dominate the assets of the hedge fund industry is the so called $1bn club – hedge fund managers with at least $1bn in assets under management (AU