Marcel Ospel: The future of Switzerland

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Marcel Ospel: The future of Switzerland

The Ospel interview


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Are you optimistic about the future of Switzerland? The economy doesn't look healthy.

Relative to where it was before, that's true, but it still looks healthy compared to other economies.

But there's been almost no growth for five years.

It's been flat for five years, true. But if you look at the economy, it seems healthy. The rate of unemployment, at 5%, is the lowest in Europe. There's a good work ethic, high output per capita, working hours are much longer than the European average. There's a highly effective social safety-net. The training platforms have been significantly improved; young people are highly motivated and internationally minded. There are a few industries that need to be restructured, such as tourism and construction. On the other hand, we have a very competitive export industry.

Is the European single currency a threat to Switzerland or an opportunity?

It could be a threat if it was unstable. That would make the Swiss franc shoot up which would be bad for the economy. But everybody is determined to have a stable euro; the European leaders have put all their political capital into it and I'm confident they will succeed.



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