The Swiss government said on Monday it was ready to ban stock exchanges in the European Union from trading Swiss shares – intensifying a row over a stalled partnership treaty.
The move follows the EU not extending stock market equivalence to Switzerland after Brussels grew frustrated with Swiss foot-dragging on the long-discussed agreement.
In response Bern said it would withdraw recognition from trading venues in the EU from July 1 to “protect the Swiss stock exchange infrastructure in the event of non-extension.”
“Trading venues in the EU would thus be prohibited from offering or facilitating trading in certain shares of Swiss companies from that date,” the Swiss government said in a statement.
