Economics

EU Doesn't See Case for Green Light on Swiss Stock Exchange

Bourse equivalence contingent on progress on framework deal
Swiss government has set Dec. 1 deadline on counter measure

Swiss Consumer Confidence Falls To Lowest In More Than 3 Years — Photographer: Alessandro Della Bella/Bloomberg

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By Alexander Weber, Nikos Chrysoloras, and Lyubov Pronina

November 28, 2018 at 3:50 PM UTC

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The European Union piled more pressure on Switzerland to resolve a political gridlock, with the bloc’s top financial regulator saying he doesn’t yet see the grounds for extending market access for the Swiss stock exchange.

“At this point in time, there is not sufficient progress in our discussions with the Swiss authorities to allow for the extension of the equivalence decision,” European Commission Vice President Valdis Dombrovskis said in a letter to EU lawmaker Markus Ferber dated Nov. 27.