Swiss Finance Minister Ueli Maurer is trying to get the European Union to keep recognizing the Swiss stock exchange. He has reached no deal so far.
If Switzerland is to receive some kind of deal with the European Union about the so-called equivalence of its stock exchange, it will probably be a temporary one. That’s at least what Swiss Finance Minister Ueli Maurer suggested after his meeting with European counterparts in Brussels.
«The question is: temporary or final? Probably, it will tend to be a temporary extension by one year,» he said in Brussels, according to a report by the Swiss television station «SRF». He is convinced that the Swiss have enough allies in the EU to reach such a deal.
Institutional Framework Agreement
But even such a temporary extension for the stock exchange will be a challenge to get if Switzerland doesn’t offer something in return. The two sides are working on an institutional framework agreement to replace a number of earlier treaties.
The Swiss exchange, operated by SIX, relies heavily on the recognition of equivalence by the EU and is eager for the government to reach a deal. Ueli Maurer is a representative of the Swiss People's Party, which is opposed to closer ties with the European Union.
