Switzerland was already compromised when Obama went after them because he wanted Delaware to be the new Switzerland, and then you have that crypto AG trojan horse which was basically the CIA getting a backdoor into swiss cryptography
European Economics Thread
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We all know Switzerland destroyed their reputation as a neutral banking destination after they sanctioned Russia What are the consequences so far, if any? It was likely a major contributing factor in hundreds of billions of withdrawals in late 2022 and early 2023 that ultimately resulted in...
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Most of the money that left Switzerland went to Singapore.
Switzerland destroyed its reputation far less than the EU or the U.S. so in relative terms they still absorb investments coming from those places.
As far as I can see here (I live in Switzerland even though I am not Swiss) things are far better than in Germany, where the economy is really killed like a chicken without head that still moves without knowing he is death anyway.
You can expect Switzerland to stay rich and absorb investment and best work from the EU during next decades, although at the end they will also suffer.
However here you can feel also the increase of energy prices, how uncompetitive their manufacturing is against China, and some other failures of the west in general.
Well good for Europe. They get to not freeze during winters and also permanently secure energy independence from Russia.
If you look at the chart even the lack of gas imports did not make them speed up the implementation of renewables.
Renewables generation growth remains basically the same if you ignore the COVID-19 period when it went down.
You cannot power most heavy industry with renewables. Heavy industry needs high temperature process heat. So the EU will just continue to lose their heavy industry. In fact becoming deindustrialized.
Renewables generation growth remains basically the same if you ignore the COVID-19 period when it went down.
You cannot power most heavy industry with renewables. Heavy industry needs high temperature process heat. So the EU will just continue to lose their heavy industry. In fact becoming deindustrialized.
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But..... at what cost?
Per the previous post, heavy industries.