Swiss prepare tit-for-tat measure on stocks in spat with EU
GENEVA (AP) — Switzerland is preparing to hit back against the European Union in a standoff over bilateral relations between the rich Alpine country and the 28-nation bloc that surrounds it.
The Swiss government said Monday that it is readying “protective measures” that could bar stock markets in the EU from “offering or facilitating trading in certain shares of Swiss companies” after July 1.
The move is a response to warnings that the EU might deny Swiss stock markets the right to offer shares to EU investors from next Monday.
Switzerland has so far refused to agree on a package of bilateral measures with Brussels amid domestic concerns.
The impasse reflects the difficulty non-EU countries in Europe have had reconciling national political pressure and their desire to trade with the economically powerful bloc.