A commission will present its findings today on the Credit Suisse-UBS merger, focusing on the actions of Swiss authorities during the crisis. Meanwhile, Switzerland and the EU are expected to officially conclude their negotiations, with key decisions on financial contributions and the free movement of persons anticipated. Other notable news includes ongoing investigations into a Chinese ship in the Baltic Sea and a tragic stampede in Nigeria that resulted in the deaths of 35 children.
The National Council's Finance Committee proposes increasing military spending by CHF 530 million while cutting development aid by CHF 250 million, sparking concerns from former parliamentarians about the negative impact on Switzerland's international reputation and humanitarian commitments. The financial showdown is set for December, with the Federal Council seeking CHF 11.3 billion in loans, including CHF 1.5 billion for Ukraine, further limiting resources for other countries. Critics warn that such cuts could lead to increased suffering and instability globally.
Support for the tightening of subletting rules has shifted, with 51% now opposing it, particularly in urban areas where only 37% approve. Meanwhile, the highway expansion proposal has seen a drop in support from 56% to 49%, with younger and urban voters increasingly against it. In contrast, the Efas health bill is gaining traction, now favored by 46% of respondents.
On November 24, voters will decide on two contentious rental proposals aimed at tightening subletting rules and easing tenant terminations for personal use. SP Vice-President Jacqueline Badran criticized the bills as attempts to facilitate evictions, while proponents argue they address rising abuses in the rental market. Notably absent from the debate was Economics Minister Guy Parmelin, who distanced himself from the proposals, labeling them as unnecessary parliamentary initiatives.
The Federal Supreme Court will decide on December 12 whether the vote to raise the women's retirement age should be repeated due to a significant miscalculation in AHV forecasts that misled voters. The Greens and SP women argue that the flawed financial outlook impacted the referendum outcome, and they demand a new vote. The court's ruling will also address whether the linked increase in VAT should be reconsidered, complicating the situation further.
Two Zurich lawyers, sanctioned by the US for managing Russian assets linked to President Putin's associates, deny any wrongdoing, claiming the sanctions are geopolitically motivated. They argue that Switzerland should resist US pressure, emphasizing their clean legal record over 30 years. The US ambassador defends the sanctions as necessary to curb illegal money flows supporting the war in Ukraine, while highlighting Switzerland's unique legal exemptions for lawyers.
Parliament's proposed rental law revisions are causing concern among commercial tenants, who warn of negative impacts from stricter subletting rules, including a two-year limit. While the Swiss Trade Association supports the changes to curb abuses, critics argue it undermines existing legal certainty and could lead to landlord exploitation.
Dominique Gerster, a seasoned communicator with nearly two decades at UBS and Credit Suisse, will join the Zurich consultancy IRF as a partner in November 2024. He brings extensive experience in corporate communications, crisis management, and strategic messaging, having led global communications at Credit Suisse during challenging times. Gerster holds a Master's degree in law and is pursuing an Executive MBA at the University of St. Gallen, set to complete in early 2025.
Seems like the connection with the server has been lost. It can be due to poor or broken network. Please hang on while we're trying to reconnect...
Oh snap! Failed to reconnect with the server. This is typically caused by a longer network outage, or if the server has been taken down. You can try to reconnect, but if that does not work, you need to reload the page.
Oh man! The server rejected the attempt to reconnect. The only option now is to reload the page, but be prepared that it won't work, since this is typically caused by a failure on the server.
