The Parliamentary Commission of Inquiry into the Credit Suisse crisis concluded that the situation was self-inflicted, while acknowledging that a global financial crisis was averted in 2023. Finance Minister Karin Keller-Sutter supports the PUK's recommendations for improved banking regulation but rejects calls to restrict capital and liquidity requirements. Political parties are divided on how to address the supervisory authority Finma, with some advocating for its strengthening and others calling for accountability for its past actions.
The PUK's report on the Credit Suisse crisis has sparked varied reactions from political parties, highlighting mismanagement by bank leaders and calling for stricter regulations. The FDP praises its Federal Councillor for crisis management, while the SP demands a ban on bonuses for UBS managers and compensation for taxpayers. The Greens and Center Party echo calls for enhanced oversight and accountability in the banking sector.
Switzerland and China are set to enhance their free trade agreement, with implementation expected in 2025. Swiss parliamentarian Thomas Aeschi indicated that negotiations, which resumed in September, aim to reduce heavy tariffs on Swiss exports, particularly watches. China seeks to attract more Swiss investments and companies, highlighting the importance of their trade relationship, valued at CHF33 billion.
Marcel Dettling, president of the SVP, has reversed the party's stance on widow's pension reform, now seeking a deal after grassroots backlash. He proposes raising the AHV ceiling for married couples in exchange for adjustments to widows' pensions, emphasizing the need to protect marriage. This shift reflects a broader reconsideration of the SVP's social policies amid changing voter sentiments.
Swiss prosecutors have fined Glencore CHF2 million for corruption related to its activities in the Democratic Republic of Congo from 2007 to 2018. Civil society groups in the DRC demand that compensation from Glencore be allocated to social investments in affected communities, emphasizing that the Congolese people, not Switzerland, are the true victims of the corruption. Swiss legislator Christian Dandrès is advocating for reforms to ensure that fines imposed on multinationals benefit the countries where the offenses occurred.
Stéphane Rossini, head of the Federal Social Insurance Office, resigned following significant miscalculations in AHV forecasts that undermined trust in management. Despite the errors being known internally for months, the responsible Federal Councillor was only informed late, leading to public outrage and calls for accountability. Rossini will remain in his position until June 2025, reflecting a culture of prolonged transitions and limited transparency in Swiss governance.
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