Swiss President Doris Leuthard on Thursday slammed the EU’s decision to limit Swiss financial access to its markets as “discriminatory”.
Leuthard was reacting to the news that the EU intends to place a one-year limit on Swiss stock exchange equivalency to EU markets because the two parties haven’t yet made any significant progress on an institutional framework agreement.

Legal and supervisory equivalence between the Swiss and EU financial markets is necessary so that European banks and investors can continue to have access to the Swiss stock exchange from January 3rd, after new European financial regulations come into effect.

In a statement on Thursday Leuthard said Switzerland had fulfilled the same conditions for recognition of stock market equivalence as other third states (non-EU members) who have obtained unlimited access.

“We therefore consider that limited recognition is discriminatory towards Switzerland,” she said.

What’s more, it is “unjustified and unacceptable” to link market access to the negotiations over an institutional framework, Leuthard added.

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