Switzerland Says the EU Is Trying to Weaken Its Financial Center

Switzerland says it fears the European Union is out to undermine its financial industry by granting Swiss stock exchanges only a temporary regulatory green light.

Using strong language, President Doris Leuthard said the EU’s decision to allow cross-border stock trading for just a year -- rather than on the indefinite basis accorded to other countries -- was a “clear case of discrimination” that risked “harming bilateral relations on other important dossiers.”