Switzerland’s ties to the EU are complex, consisting of 120 bilateral agreements, but up until now the rules on Swiss stock exchanges and bourses around the EU have been deemed to be as tough as each other’s. This month the EU has refused to extend this concept beyond the end of June, so the Swiss government has retaliated by threatening to ban EU firms from trading and holding shares listed in Zurich and Berne. The trouble is that 3 of Europe’s biggest listed companies, Nestle, Novartis and Roche, are in Switzerland.
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