Photo: Wikimedia Commons
With the news this morning that a UBS trader cost the bank $2 billion, Switzerland’s sterling reputation will take a brief blemish. But still, the country’s safe-haven reputation is pretty remarkable, so much so that the Swiss National Bank recently announced that it will print Swiss Franc to the sky in an effort to keep it from appreciating against the euro.So what really makes Switzerland Switzerland?
Der Spiegel takes a long look at this oasis and really it can all be summed up by this line, from the head of a data storage company, basically sums it up “The Swiss have a reputation for protecting valuable things, like money, data and gold. Even the pope.“
Well put. And for the same point made visually, check out this classic from FT Alphaville.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.