ZURICH: Swiss relations with the European Union soured on Thursday as Bern promised retaliation over what it called unacceptable limitations on Swiss stock exchanges’ access to the EU single market.

The row threatened to set back ties between neutral Switzerland and its main trading partner that had been thawing after the Swiss parliament last year skirted voters’ demand for immigration quotas for EU citizens.

Swiss President Doris Leuthard accused the EU of trying to undermine Switzerland as a financial centre by granting its stock exchanges only temporary access to the bloc.

Bern wants the same regulatory status for Swiss bourses as those in other countries have, enabling EU investors to trade in Switzerland, a crucial source of exchange volume.

Published in Dawn, December 22nd, 2017