Switzerlands Financial Outlook :: essays research papers

Switzerlands Financial OutlookLocated in between Italy, France, and Austria, Switzerland is home to a creation of 7,450,867 (World Factbook, 2004). In 1848 Switzerland became a federal state that now has 26 cantons and half cantons. Switzerland is a melting pot, consisting of various cultures imported from the several surrounding countries. Languages spoken hold French, German, Italian, and Romansch (World Factbook, 2004). For the amount of diversity among its people, it is quite impressive that Switzerland has been the leading European terra firma with the lowest unemployment rate for years (World Factbook, 2004). The Roman Catholic and Protestant faiths are the twain prominent religions among the Swiss. Switzerland is a member of several economic and finance organizations European Free Trade Association, World Trade Organization, World Bank, International Monetary farm animal Organization for Economic Co-Operation & Development, and the European Bank for Reconstruction and De velopment (The Columbia Electronic Encyclopedia, 2001). Despite Switzerlands many financial alliances, it is a country that has ache practiced an axiom of neutrality. Switzerland refuses to join any alliance that will obligate her to take military action in the event of war, (which rules out NATO membership) unless the country itself is existence threatened. Some would argue that the policy of neutrality that has helped Switzerland to continually show signs of a ongoing prosperity. Nevertheless, Switzerland has long struggled to remain a non-participant during the wars that ravaged Europe in the 20th century. Its citizens seem perpetually divided amongst themselves about the value of remaining a neutral country. Whatever the case may be, over recent years the country has demonstrated they have the potential for a strong and prosperous future.Major IndustrySwitzerlands economy is divided into three sectors agriculture, industry and services. Fifty portion of the population is emp loyed in services, with banking being the dominant service in the country and arguably, in all of Europe. Switzerlands financial sector employs 220,000 people and contributed to 10.9% of staring(a) domestic product in 2000 (Federal Department of Foreign Affairs, 2002). Forty percent of the population is employed in the machine, metal, and textile industry, which account for a large subjugate of their exports. The other ten percent of the population works in agriculture. Due to the under whelming number of people left working in agriculture, it is strongly back up by the government. In recent years, advancements in medical technology have led to creation of many small pharmaceutical companies throughout Switzerland.