Recession and the Swiss Banking Secret
April 5, 2016
Vision
For DAS MAGAZIN (Switzerland, April 2009)
I saw that Switzerland will go without any mayor damage trough the recession. In contrary, Switzerland will be able to take advantage of it and stay strong in all aspects.
For Tele Zueri
I saw Switzerland passing the economical recession without mayor damage. At the same time it will be possible to keep the Swiss Banking Secret up.
Link DAS MAGAZIN
Outcome
Newsweek Magazine, December 2010:
What the Swiss Did Right
The Swiss faced one of the globes worst financial-sector blowups. Now they are setting the gold standard for how to regulate their banks.
During the financial panic of 2008, the Swiss had more reason than most to be frightened. The countries banks, dominated by Credit Suisse and UBS, held assets worth an incredible 680 percent of Switzerlands GDP (compared with U.S. commercial banks assets of 70 percent of GDP). No one knew how many of the Swiss holdings were toxic. What everyone knew was that these banks were far too big for tiny Switzerland to bail out in any full-blown banking crisis. Capital flight would crush the Swiss franc and the countrys economy right along with it. There were scary parallels to Iceland, another small nation with an independent currency and outsize global banks. After a severe blowout, Iceland is now in a deep recession and on life support from the IMF.
Yet today, little Switzerland is a rock in the global tempest.
What so many politicians, economists or commune people in Switzerland or all around the world did fear never happened! Switzerland did stay save, exactly the way I predicted it!
Link to NEWSWEEK
Tax Justice Network (TJN), November 2nd, 2015:
TJN on its Financial Secrecy Index puts Switzerland on 1st place.
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