Bank of England monitors Credit Suisse troubles. I thought (wrong I guess) banks in this country are very safe.
The fuck is wrong with these guys?
And this was in Feb 2022
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You do realize if CS blows up, then Switzerland blows up.
CS and UBS are Switzerland.
It’d be the same as if Chase or BoA blew up in the US. if that happens, get a horse in exchange for your scooter.
Nothing new about Credit Suisse - it’s been in one (bad) headline after another for a few decades - remember that Banks in Switzerland kept ‘mum’ about who their customers were until laws regarding disclosure were changed in recent years. It goes back to the Nazi’s and more.
There are reasons why Switzerland is not a member of the EU, and not part of the Euro Zone.
As falls Witchita so falls Witchita Falls…
Switzerland is not a member of the EU and the eurozone because they don’t need it. Why would a country 3 times as rich as the EU want to join the losers club?
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Is that true? Wow!
Yeah it is true. Switzerland’s GDP per capita is like 90+k. EU average is like 35k or so.
OK, per capita. I thought you meant the country. Swiss people are rich, for sure.
If they joined the EU they would be a net contributor and would be forced to lend money to poor member states. Who would want to do that?
I agree. I don’t see any benefit in the Swiss joining. They had to tighten their belts during WW2, but other than that unlikely risk they’ve done very well on their own for a long time
They would have benefited if they didn’t already have all the access they need lol. They have freedom of movement and full financial access. The rest is just unnecessary baggage.
the Germans did, buy they were happy to give up strong Deutsche Mark for weaker Euro, so exports got long-term boost
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GDP is not a measure of wealth. It can indicate that wealth exists but it is not a measure of wealth.
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Is this part of the deal? Kind of makes Brexit make more sense.
I think it probably is a measure of wealth in Switzerland. Perhaps not for everybody, but most.
It is only a measure of the value of the production of goods and services. A country the size of Greater Taipei will have very skewed numbers.
And yet, most of the trouble in finance starts in the US of A.
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Really? Thanks for the explanation.
No. Switzerland is just extremely rich. In terms of wealth it’s head and shoulders above EU countries too.
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