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Anxiety in Swiss banks and the EU | Against immigration

Swiss banks are the first to react for Sunday’s referendum in which 50.3% of Swiss voted NO to immigration asking in this way new laws that will reduce immigration to Switzerland. This decision brings the Swiss opposed the legislation on the free movement of persons between the EU force and alpine country in Central Europe. The very strong Swiss Banking Association representing over 300 Swiss banks, shows the great concern by emphasizing that the EU is the most important foreign market for Swiss banks and the Swiss government now needs to find a way to explain the decision in the EU.

Switzerland

Switzerland

Indeed, the European Commission did not accept the decision at all positive. The representative of the European Commission, Pia Arenkilnte Hansen said today that the vote Sunday does not set the right tone for the start of an institutional agreement governing the relationship between the EU and Switzerland but it is too early to decide how to respond, the ball is now in the court of Switzerland. In Switzerland immigrants counted 20% of the population of more than 1.25 million EU citizens to work in the country. The Italians and the Germans are the majority with 291,000 and 284,200 respectively, followed by the Portuguese and French 237.00 104,000.

Switzerland

Switzerland

And therein lies the problem of banks that need skilled workers as the fourth employee of the Swiss banks are Europeans. The question now is which large foreign company will invest in Switzerland where there is uncertainty in occupational status. Who will come to a country that says that from September we will have restrictions? Same time you need to get yourself and after two years will be able to follow your family. Those who will attract people who are less qualified and more need for work. We must ask ourselves if this is ultimately what we want. Said Valentina Vaughan, president of the Swiss Federation of Employers.

By Nicole P.

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