Tech & Biz

G20 "not legitimate," say Swiss officials

by Patricia Turo | September 29, 2009 at 01:12 am

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The Swiss are finding themselves on the outside looking in now that they have agreed to be more transparant and worked out a tax agreement with the US and they are not happy.

G20 "not legitimate," say Swiss officials by Giles Broom Geneva - September 25, 2009 | 10:31 G20 governments are discussing global financial system reform at a summit in Pittsburgh. Despite having two prominent financial centres in Geneva and Zürich, the Swiss are not invited and are not privy to conversations about tax havens, global tax and regulatory reform and executive pay. People in government and the financial services industry say the G20 is not a legitimate organisation.

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sara star

at 08:25 on September 29th, 2009

It is appauling that the Swiss are not a part of this group. They should be!

Medvedev went on to say that he supports Switzerland in joining the G20, complimenting them on their financial expertise. He further added that the G8 countries (which does not include Switzerland) have not been able to solve the financial crisis, and that perhaps the G20 would have better success.

Giles81

at 08:52 on October 27th, 2009

Thanks for posting this. Regarding global regulation of financial markets also look at the importance of the Financial Stability Board based in Basel, Switzerland, which is supposed to be overseeing the implementation of reforms: http://www.swisster.ch/en/news/business/basel-body-leads-global-financial-reform_116-2468680