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'The EU is acting this way to weaken the Swiss financial centre,' said Swiss president Doris Leuthard (r), who threatened possible retaliation (Photo: European Commission)

EU angers Switzerland over stock market access

The EU angered Switzerland on Thursday (21 December) when it granted Swiss stock exchanges access to EU markets for only one year.

The decision on equivalence, which implements a new Markets in Financial Instruments Directive and Regulation (called MiFID II/MiFIR), will enter into force on 3 January.

It was adopted by the European Commission on Thursday after member states - except the UK - supported it.

Its renewal next year will depend on progress in the negotiations betwe...

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'The EU is acting this way to weaken the Swiss financial centre,' said Swiss president Doris Leuthard (r), who threatened possible retaliation (Photo: European Commission)

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