Introduction

Henri B. Meier (), John E. Marthinsen (), Pascal A. Gantenbein () and Samuel S. Weber ()
Additional contact information
John E. Marthinsen: Babson College
Pascal A. Gantenbein: University of Basel
Samuel S. Weber: SSW, Independent Wealth Manager

Chapter Chapter 1 in Swiss Finance, 2023, pp 1-10 from Springer

Abstract: Abstract Switzerland was once one of the poorest countries in Europe because it had generally infertile agricultural land and neither mineral resources nor access to the sea. It was only during the first decade of the twentieth century that Switzerland founded its central bank and created the Swiss franc. Switzerland’s stable monetary environment, functioning financial system, and an economy unharmed by wars allowed it to become one of the world’s wealthiest and most prosperous countries. Significant legislative, regulatory, and operational improvements aided the transformation. Unfortunately, this increasing strength encouraged certain Swiss banks’ adoption of Wall Street’s casino mentality, resulting in substantial Swiss bank losses. A wave of new regulations ensued, sacrificing financial freedoms that were once hallmarks of Switzerland’s financial, social, and economic systems.

Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-23194-0_1

Ordering information: This item can be ordered from
http://www.springer.com/9783031231940

DOI: 10.1007/978-3-031-23194-0_1

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().