Switzerland Today

Swiss President Alain Berset has endured no end of negative headlines. This time he has surpassed himself.

The latest row centres on a media interview in which he muses on people exhibiting “war frenzy” when debating Switzerland’s refusal to allow its weapons to go to Ukraine.

This has drawn a backlash, both at home and abroad.

Keystone / Filip Singer

The origins of the “war frenzy” row

In an NZZ am Wochende interview, Berset is asked about growing calls from other countries to re-export Swiss-made war materiel to Ukraine, to allow it to fight off Russian invaders.

Berset compares this to the situation leading up to World War I.

The ball has been returned with venom. Radical Party President Thierry Burkart was “shocked” that Berset refers to the “war frenzy” of Western countries rather than Russia. By doing so, he harms “the reputation and positioning of our country.”

Berset is even coming under pressure from within the ranks of his own Social Democratic Party. Co-President Cédric Wermuth accuses the government of acting incoherently and of hiding behind neutrality.

The New York Times quotes a Western official as saying that Switzerland’s current stance is giving Western diplomats the feeling that it pursuing “a neutrality of economic benefit”.

War in Ukraine puts centuries of Swiss neutrality to the testExternal link – New York Times

Swiss President ‘war frenzy’ remark sparks backlash – SWI swissinfo.ch

© Keystone / Christian Beutler

Electricity vs nature conservation

Parliament has been absorbed for two days with a monster debate on securing power supply in Switzerland. The nub of the matter is accelerating the expansion of renewable energies.

A few key goals: mandatory solar panels on buildings, accelerating digitisation of the electricity grid and providing additional winter electricity production.

The expansion of renewable energies, namely hydropower projects, should not come at the expense of the environment, says the political left.

By contrast, right-wing parties want to lower environmental hurdles and to keep the door open to new nuclear power plants.

Alpine nimbyism freezes Swiss green energy dreams – SWI swissinfo.ch/Financial Times

© Keystone / Walter Bieri

The cost of bad business at Credit Suisse

Credit Suisse presented its 2022 annual report today – a week late.  It does not make for pretty reading.

Yesterday, the Swiss bank’s shares went tumbling 10% because of a crisis at Silicon Valley Bank in the United States.

Today, after Credit Suisse finally published its report, its share price fell another 5%. This is after the bank admitted “material weaknesses” at spotting errors in financial statements.

Top brass forewent bonuses after a dismal year. But that does not mean they have to go hungry: basic pay for the executive board last year amounts to over CHF32 million.

Where did it all go wrong for Credit Suisse? – SWI swissinfo.ch

Credit Suisse finds ‘material weaknesses’ in financial reporting controlsExternal link – Financial Times

Keystone SDA

Swiss abroad wanted! Discuss Swiss neutrality with us

On 23 March the subject of neutrality will be the focus of our “Let’s Talk” recorded show. Our two expert guests are Katja Gentinetta, political philosopher and author, and Sacha Zala, historian and director of the Diplomatic Documents of Switzerland research unit.

Tell us what you think about neutrality. Is it a proven means of maintaining peace and prosperity? Or a selfish instrument to defend Switzerland’s economic interests?

Was it right for Switzerland to adopt European Union sanctions against Russia? Should Ukraine’s allies be allowed to pass on Swiss war materiel?

These questions are of vital importance to Switzerland and will feature heavily in the general election campaign this autumn. What does Fifth Switzerland think about this?

Get in touch with us and join the discussion on 23 March at 4.30 pm. We will send you all the relevant information by email.