{
}
Swiss political parties will continue receiving financial support from banks, as a motion to end such funding was withdrawn after a negative vote in the National Council. Critics, particularly from the left, argue that this practice allows systemically important banks to unduly influence political decisions. Despite calls for reform, the proposal faced significant opposition, as all parliamentary parties benefit from bank donations, with the SVP receiving over CHF 450,000 in 2023 alone.
The National Council has rejected a proposal to ban bank donations to political parties, a move criticized by the Socialist Party (PS) as indicative of the influence banks wield over politics. Despite the PS's efforts to highlight the issue following the Credit Suisse crisis, the debate was brief and largely dismissed by the bourgeois camp, which holds a majority. All Swiss parties, including the PS, have received funding from systemic banks, with the SVP and PLR receiving the most significant amounts.
The National Council has rejected a motion from the Swiss Socialist Party to freeze UBS payments to political parties, allowing the bank to continue influencing bourgeois parties, including the Greens and SVP. Critics argue this undermines democracy and hinders necessary banking regulations, as UBS's donations are tied to political support. The Council of States will soon discuss the implications of such donations on parliamentary independence.
The National Council has rejected a motion from the SP to halt UBS's financial contributions to bourgeois parties, allowing continued large donations that may influence political decisions. SP leaders argue this dependency on UBS undermines necessary banking regulations and threatens democracy, as UBS's donations are tied to favorable policy outcomes. The Council of States will soon discuss the implications of such donations from systemically important banks.
UBS's takeover of Credit Suisse has left the Anny Klawa-Morf Foundation without its main donor, as Credit Suisse ceased contributions in 2022. Despite the SP's stance against donations from systemic banks, bourgeois parties accepted funds from Credit Suisse in 2023, citing prior commitments and the need for financial support during an election year. The situation has sparked accusations of hypocrisy and raised questions about the ethics of accepting money from a failing institution.
Baptiste Hurni
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
banks continue political donations in switzerland despite calls for reform
09:55 20.03.2025
Swiss National Council Rejects Ban on Bank Donations to Political Parties
United States Dollar
Euro
Swiss Franc
Credit Suisse Strategic Income I
Raiffeisenfonds-Wachstum T
CHE
Jessica Jaccoud
Vincent Maitre
Baptiste Hurni
Cédric Wermuth
Cyril Aellen
Hans-Peter Portmann
Philipp Matthias Bregy
Show more
17:43 19.03.2025
UBS payments to political parties threaten Swiss democracy and regulation efforts
10:47 19.03.2025
UBS donations to political parties raise concerns over democratic integrity
10:46 19.03.2025
political parties face scrutiny over donations from systemic banks in switzerland
08:03 09.03.2025
Trending
Subcategory
Corporate News
Stock Market Updates
Industry Trends
Finance Mergers & Acquisitions
Global Financial Events
Banking Regulations
Market Analysis and Predictions
Retail and Consumer Goods
Hedge Funds & Private Equity
Financial Scams and Security
Workplace Trends
CEO Changes
Startups & Entrepreneurship
Government Policies
Central Bank Actions
Energy Sector Developments
Corporate Social Responsibility
Supply Chain Management
Industry Mergers & Acquisitions
Private Equity Deals
Countries:
Companies:
JPMorgan Chase & Co.
Tesla, Inc.
Barclays PLC
Morgan Stanley
Bank of America Corporation
Wells Fargo & Company
The Goldman Sachs Group, Inc.
Citigroup Inc.
Apple Inc.
SpaceXCoin USD
NIKE, Inc.
Credit Suisse Strategic Income I
Deutsche Bank RV Global PP
NVIDIA Corporation
Micron Technology, Inc.
UBS Group AG
Microsoft Corporation
Lloyds Banking Group plc
HSBC Holdings plc
The Charles Schwab Corporation
Currencies:
United States Dollar
Euro
British Pound Sterling
Swiss Franc
Chinese Yuan
Indian Rupee
Japanese Yen
Singapore Dollar
Australian Dollar
Danish Krone
Canadian Dollar
Malaysian Ringgit
Hong Kong Dollar
Russian Ruble
Egyptian Pound
Swedish Krona
Polish Złoty
Colombian Peso
Uruguayan Peso
Mexican Peso
People: