Re:Credit Suisse scandal shakes Zurich’s elite
by tobltobs on Friday October 11, 2019 @05:53PM
(#21228825)
> Isn't banking a backbone of the whole Switzerland,
Banking and insurance is nowadays somewhere between 5% and 10% (depending which calculation method you use) of the gross value of Switzerland.
Switzerland is still the biggest wealth manager. Most of the wealth (aka black money) managed by swiss banks is nowadays just in offshore tax heavens, like the US.
The real backbone and the reason for stability are those thousands of small and medium sized manufacturing companies.
Banking and insurance is nowadays somewhere between 5% and 10% (depending which calculation method you use) of the gross value of Switzerland.
Switzerland is still the biggest wealth manager. Most of the wealth (aka black money) managed by swiss banks is nowadays just in offshore tax heavens, like the US.
The real backbone and the reason for stability are those thousands of small and medium sized manufacturing companies.