Switzerland faces deadline on the EU Integration deal

Switzerland faces deadline on the EU Integration deal

Brussels has served an obvious final proposal to Switzerland on exchange, cautioning that its stock trades will be cut off from EU dealers unless the country starts to support another system for relations with the coalition on Friday.

If Switzerland wishes to continue operating on the EU trading market, it needs to gather all seven-member federal council, or cabinet to discuss on how to align and assure full compliance with the EU’s established regulatory system. The European commission will officially announce that all existing Swiss equity markets will perish as of January 1, 2019, unless Switzerland agrees to accept the framework agreement on Friday.

Should the Swiss accept to follow the framework, the commission shall extend its permissions to trade on the European market for two more years (till 2021). To put even more pressure and drive more attention to the issue, the commission informed Brussels that equivalence will be drawn back unless Switzerland comes-up with a clear answer on the issue, where the reply “maybe” is not considered as an acceptable choice.

The commission would consider it as a negative decision,” the officials said, according to one diplomatic note of the meeting.

Experts expressed fear of Switzerland once again going around the answer to a “maybe” instead of establishing a clear position with an “yes” or “no” answer or furthermore, starting a public consultation on the deal.

Coming to a resolution of the issue is highly important and sensitive since if the Swiss decide to accept the terms and comply with the regulatory framework, all Swiss rules automatically change in line with those of the EU laws and regulations, which would in turn give the European Court of Justice a role in resolving conflicts.

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Switzerland faces deadline on the EU Integration deal


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