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Swiss Preparing for ‘Mild Recession,’ President Tells Sonntag

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Jan. 1 (Bloomberg) -- 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

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