Member Submitted/Breaking News

Despite being one of the most stable and economically vibrant countries in the world, primarily as a result of its refusal to join the Euro, Switzerland is preparing for mass civil unrest in central Europe that could spill over its border, by mobilizing troops to deal with potential disorder.

The Swiss government has extended its financial sanctions against Iran by freezing the assets of 11 more companies and people but decided not to take any action against Tehran's central bank, officials said Wednesday.

When it comes to rescuing an insolvent country, continent, or entire financial system, at the end of the day it is a simple question of maths: is "doing it" cheaper than the alternative. Recall that the IIF was heaping fire and brimstone on bondholders and threatening the world with $1+ trillion in losses if bondholders did not comply. That nobody has any clue just what said costs, and opportunity costs, are, does not matter: the status quo must be preserved at all costs. And the status quo is one of avoiding private losses at the expense of taxpayer capital. Enter Credit Suisse with its back of the envelope analysis of the cost of not bailing out Europe's insolvent PIIGS, and the (taxpayer) cost to "save" them.

Wow... very, very informative.

For us. -JO Isn't that called slavery? -- MCR

U.N. human rights chief Navi Pillay told The Associated Press the activists should have been invited to take part in debates inside the main venue where political and business leaders are discussing the state of the world.

"Switzerland’s economic growth will almost grind to a halt next year as the franc’s appreciation and floundering global demand hurt exports, according to the KOF Economic Institute."

AS PROTESTS against financial power sweep the world this week, science may have confirmed the protesters' worst fears. An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.

The era of global "currency wars" has taken a dramatic turn after Switzerland abandoned its floating exchange rate, setting a floor against the euro to counter safe-haven flight from eurozone debtors.