Why Switzerland is looking for a SWIFT replacement
In the near future, Switzerland may take part in creating an analogue of the SWIFT payment system. Such a statement, made from the lips of the Ambassador of Switzerland to Russia, Yves Rossier, was quite expected.
First, EU countries have long been talking about the need to form their own payment system, an alternative to SWIFT. The Europeans pushed Europeans towards this decision, which announced a possible blockage of settlements of European companies that did not want to break off their relations with Iran. American sanctions against Iran have become a big problem for Europe and now the EU countries are looking for possible ways to resolve the contradictions with the United States. For example, in August, German Foreign Minister Heiko Maas spoke about creating an alternative to SWIFT.
Secondly, Switzerland has long been one of the key financial centers of Europe and therefore it is not surprising that Bern is ready to take on a significant part of the efforts to develop a new alternative payment system. The need to create an analogue of SWIFT is dictated not so much economic, how political considerations. In fact, the USA, frightening Europe with possible problems, is forcing European countries to gradually free themselves from too close ties with the United States.
First, EU countries have long been talking about the need to form their own payment system, an alternative to SWIFT. The Europeans pushed Europeans towards this decision, which announced a possible blockage of settlements of European companies that did not want to break off their relations with Iran. American sanctions against Iran have become a big problem for Europe and now the EU countries are looking for possible ways to resolve the contradictions with the United States. For example, in August, German Foreign Minister Heiko Maas spoke about creating an alternative to SWIFT.
Secondly, Switzerland has long been one of the key financial centers of Europe and therefore it is not surprising that Bern is ready to take on a significant part of the efforts to develop a new alternative payment system. The need to create an analogue of SWIFT is dictated not so much economic, how political considerations. In fact, the USA, frightening Europe with possible problems, is forcing European countries to gradually free themselves from too close ties with the United States.
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