The global financial system is collapsing before our eyes. Switzerland, being so dependent on its banking system for its economy, is facing a big problem. Although on the surface it seems Switzerland’s economy is still doing well and its unemployment being well controlled, the true is its problems haven’t been revealed yet.

What could collapse Switzerland will be its banks. Swiss banks have been the major lenders to Eastern European countries with lending over billions of dollars and these countries are now unable to pay back. The world needs to start looking at ways to save these countries before we get hit by another blow. The collapse of Swiss banks would totally destroy people confidence in banks and the effect will be a catastrophe.

- Patrick

Related posts:

1. Swiss miss The Swiss franc, popularly known as Swissy among the forex...
2. News Flash - UBS Chief Resigns UBS Chief Rohner has tendered his resignation and will be...
3. Australia Revealed Bad Private Sector Credit Data Australia’s december private sector credit shrank into negative region for...
4. Unemployment Rate of various countries (Jan 2009) I always feel unemployment rate is a good indication of...
5. Weekly Outlook Monday, 06 April 2009  Last week-Market attention was focused...