The Local Switzerland

Why the Swiss are so spooked by using debt to prop up economy

Sun, 21 Feb 2021 11:52:24 +0100

Germany, which is known for strict budgets, has tapped debt markets to prop up its virus-hit economy, while neighbouring Switzerland has consistently curbed borrowing despite calls to change course.

Why do nearly half of Swiss households have debts?

Tue, 18 Feb 2020 16:53:55 +0100

New data shows that over 40 percent of the population lives in a household with at least one debt. Large families, the unemployed, and foreigners are the most affected.

Report: Switzerland is no longer world’s richest country

Wed, 27 Sep 2017 13:46:46 +0200

The US has overtaken Switzerland as the world’s richest country in terms of wealth per household, according to a study by financial services provider Allianz.

Fifa museum struggles with 30 million franc loss

Thu, 10 Nov 2016 10:11:13 +0100

Fifa’s multi-million franc new museum, which opened earlier this year in Zurich, has recorded a loss of 30 million francs this year, according to reports.

Swiss mining firm faces multi-billion-dollar debt

Mon, 07 Sep 2015 14:10:38 +0200

Swiss mining giant Glencore, hit by a collapse in commodities prices, announced on Monday a series of extraordinary measures to eliminate roughly a third of its $30 billion dollar (27 billion euros) net debt.

Man torches apartment over 50 franc debt

Fri, 30 Sep 2011 16:20:24 +0200

A man who burned down his friend’s apartment over a 50 franc ($55) debt was convicted of arson and sentenced to 14 months in prison by the Zurich district court on Thursday.