The Swiss People’s Party plans to file a motion in parliament calling for the Swiss central bank to be subjected to “disciplinary supervision” by the government or legislature, SonntagsZeitung reported, citing Deputy Chairman Christoph Blocher in an interview.
Zurich’s auction houses are attracting a growing number of international buyers for Swiss art, reflected in higher prices for artists including Ferdinand Hodler, Albert Anker and the Giacometti family.
With Credit Suisse Group AG poised to become the first bank in more than a decade to admit to a crime in the U.S., regulators have been reaching out to some of the firm’s biggest business partners to avert a panic, according to a person briefed on those communications.
For almost eight decades, many Swiss bankers had an easy job taking in often untaxed money from wealthy customers from around the world. Now, the country’s first female finance minister is changing the way Switzerland’s 300 banks are doing business.
Christoph Blocher, vice president of the Swiss People’s Party, said the country should consider prohibiting commercial banks from investment banking after UBS AG announced a $2 billion loss from unauthorized trading, SonntagsZeitung reported.