Wednesday, February 22, 2012
Wednesday, June 8, 2011
Parliament takes first step in nuclear opt-out - SwissInfo
by Urs Geiser, swissinfo.ch
The government has won approval from a majority of the House of Representatives for a proposed gradual withdrawal from nuclear energy.
The house called on the cabinet to remove administrative hurdles for renewable energy projects and promote research in this field but also wants to curb the right of environmental groups to block the construction of wind- and hydro-power plants.
All the decisions taken in Wednesday’s marathon debate still have to be confirmed by the Senate at a later stage.
It could take several years before the necessary legal amendments will have been discussed by parliament. Voters are also likely to have a say on the issue at the ballot box.
Two weeks ago the cabinet decided to decommission Switzerland’s five nuclear power reactors by 2034, once they reach the end of their lifespan. It announced its intention to boost renewable energy resources and promote energy saving methods instead of building new nuclear power plants.
Eric Nussbaumer, Social Democrat
The wide-ranging discussions in the House of Representatives – one of two parliamentary chambers – pitted the centre-left and members of the centre-right parties against the rightwing Swiss People’s Party.
The centre-right Radicals, considered close to the business community, abstained in a crucial vote over the cabinet proposal.
Supporters, mainly from the Social Democrats and the Greens, argued phasing out nuclear energy was desirable and realistic. Those unwilling to agree to a political sea change after the disaster at the Japanese nuclear power plant of Fukushima were ignoring reality, they said.
“There is a world before Fukushima and a world after Fukushima,” said Roberto Schmidt of the centre-right Christian Democrats.
Speakers called for a sustainable energy policy and innovative solutions to spare future generations a nuclear disaster.
Notably the Radical Party drew a barrage of criticism for its refusal to back the government’s proposal.
“We must not shirk from a decision over nuclear energy now,” said Social Democrat Eric Nussbaumer.
Hansruedi Wandfluh, Swiss People's Party
However, opponents slammed the government’s proposal as irresponsible, unrealistic and damaging for the Swiss economy.
“The cabinet might believe it has made the right choice but it is mistaken,” said Hansruedi Wandfluh of the People’s Party.
Filippo Leutenegger of the Radical Party pointed out that refusing to replace the existing nuclear power plants with a more advanced technological generation was tantamount to a “ban on technology”.
Other speakers warned of price hikes for electricity which could have a serious impact on the competitive edge of the Swiss economy.
It was an illusion to believe that renewable energy resources could make up for the gap that would open up if Switzerland phased out nuclear energy, opponents argued.
Energy Minister Doris Leuthard reiterated that the cabinet based its proposals on economic considerations and on general concerns of the population about nuclear energy.
She added there was potential for energy saving measures and for renewable energy resources which at the moment play a marginal role in Switzerland’s energy policy.
Leuthard said she had confidence in the power of innovation both from the research community and from Swiss companies.
“The government’s proposal for a phase out by 2034 gives us time to seek solutions with all players from the business community and from politics,” she said.
The cooperation of all sides involved was needed and a willingness for compromise and clear-headed decisions, she said.
The five-hour parliamentary debate was broadcast live on public television and saw a string of party-political and personal verbal exchanges. About 60 parliamentarians took part in the debate on more than 130 different detailed proposals.
Environmental issues, including nuclear energy, are seen as a key topic in the campaign ahead of October’s parliamentary elections.
Urs Geiser, swissinfo.ch
Friday, May 6, 2011
Tuesday, April 19, 2011
Swiss urge global rethink of nuclear power - SiwssInfo
President and Foreign Minister Micheline Calmy-Rey has urged the international community to set new priorities for the use of nuclear energy.
Addressing a summit in the Ukrainian capital, Kiev, to mark the 25th anniversary of the Chernobyl nuclear disaster, Calmy-Rey recalled the “unspeakable suffering” at Pripyat – the town near the destroyed power plant – and parts of Belarus and Russia.
She also called on the International Atomic Energy Agency (IAEA) to reconsider its role following the accident at a nuclear power plant in Fukushima, Japan, earlier this year.
Calmy-Rey was among government representatives from 50 nations discussing the safe use of nuclear power.
New questions raised about Switzerland’s energy strategy.
Switzerland is committed to increasing its financial aid for the victims of Chernobyl – in line with pledges by other countries according to an economics ministry spokeswoman. The Swiss contribution to an international programme is set at 1.15 per cent of the total.
To date, Switzerland has paid €27 million to projects, including the Chernobyl Shelter Fund, according to the foreign ministry.
Ukraine was hoping to raise €740 million (SFr952 million) in funds for new safety measures at the site of the 1986 nuclear disaster.
swissinfo.ch and agencies
Wednesday, January 19, 2011
Thursday, December 16, 2010
Foreign companies moving head offices to Switzerland inflate figures
Switzerland, which has one of the world’s highest net international investment positions (IIP) in relation to GDP, saw this climb back nearly to 2007 levels in 2009. Its net position rose by CHF95 billion to CHF764b in 2009. Foreign assets climbed by CHF95b to CHF 3,177b. Assets “were still considerably below the level of 2007″, says the Swiss National Bank (SNB).
The figures were released Tuesday morning 14 December by the SNB.
Net IIP is the difference between a country’s external financial assets and liabilities. IIP equals domestically owned foreign assets and foreign owned domestic assets.
“In relation to GDP, the 2009 net investment position increased from 123 percent to 143 percent year-on- year—a very high figure by international standards. At the end of 2007, this key figure was 149 percent,” the SNB notes in its press release. Hong Kong traditionally has a very high figure, above 300 percent, while the United States, for example, was -24 percent, Ireland -58 percent and Greece -75 percent in 2008.
Foreign companies account for nearly half of direct investment
Foreign assets include direct investment, portfolio investment and reserve assets. Direct investment alone rose by CHF85b, with foreign companies moving to Switzerland, included for the first time in these figures, accounting for nearly half that amount, CHF38b. Direct investment rose for two reasons, says the SNB: Swiss companies invested in subsidiaries abroad and foreign companies moved their headquarters to Switzerland.
The growing number of foreign companies moving to Switzerland, many of them from the UK, has drawn fire from British media, most notably with the planned move of Cadbury’s, for tax reasons, in 2011.
The number of employees of Swiss subsidiaries abroad fell by 28,000 in 2009, for a total of 2.63 million, the first such decline since 2003.
The SNB notes that
“by comparison with other countries, Switzerland has relatively high levels of direct investment abroad. This is evident from the ratio of Swiss direct investment abroad to nominal gross domestic product (GDP), which amounted to 164 percent at the end of 2009. In the Netherlands this ratio amounted to 107 percent, while in Ireland it was 85 percent. As recently as 1990, Switzerland had a ratio of 28 prcent and lagged behind both the Netherlands (36 percent) and Ireland (31 percent) (source: Unctad, World Investment Report 2010).”
Income from direct investment abroad rose to CHF53b, up sharply from the 2008 figure of CHF8b, thanks in large part to the banking industry’s recovery.
Derivatives out of favour, high Swiss share prices find investors
Swiss shares held by investors abroad jumped by CHF82b to CHF555b as a result of higher share prices. By contrast, foreign investors scaled back their holdings of Swiss debt securities, notes the SNB. Derivatives and structured products lost favour, and their fall nearly offset the rise in foreign assets.
Swissinfo video on foreign companies moving to Switzerland for tax purposes