Swiss Preparing for ‘Mild Recession,’ President Tells Sonntag

Switzerland is making plans to “stabilize” the nation’s economy if there is a recession this year, Der Sonntag said, citing an interview with Finance Minister Eveline Widmer-Schlumpf.

“We’re operating on the presumption that we could move into a mild recession,” Widmer-Schlumpf, who is also the country’s president, told the newspaper. “We are in the process of drawing up measures to be put in place if we find ourselves in a situation similar to 2008 or 2009.”

The minister said she expects a tax dispute with the U.S. to be resolved in 2012, Der Sonntag reported.

To contact the reporter on this story: Leigh Baldwin in Zurich at lbaldwin3@bloomberg.com

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.