Switzerlands Financial Outlook :: essays research papers

Switzerlands Financial sentryLocated in between Italy, France, and Austria, Switzerland is home to a population 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 embarrass French, German, Italian, and Romansch (World Factbook, 2004). For the amount of diversity among its passel, 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 be the two 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 Fund Organization for Economic Co-Operation & Development, and the European Bank for reconstruction and Deve lopment (The Columbia Electronic Encyclopedia, 2001). Despite Switzerlands mevery monetary alliances, it is a country that has long 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 being threatened. Some would argue that the indemnity of neutrality that has helped Switzerland to continually show signs of a ongoing prosperity. Nevertheless, Switzerland has long struggled to bear a non-participant during the wars that ravaged Europe in the twentieth century. Its citizens seem eternally divided amongst themselves about the value of remaining a neutral country. some(prenominal) the case may be, over recent years the country has demo they have the potential for a strong and prosperous future.Major perseveranceSwitzerlands economy is divided into three sectors agriculture, industry and services. Fifty part of the population is employed 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 gross domestic product in 2000 (Federal Department of Foreign Affairs, 2002). cardinal percent of the population is employed in the machine, metal, and textile industry, which account for a large number of their exports. The other ten percent of the population whole kit and boodle in agriculture. Due to the under whelming number of people left workings in agriculture, it is strongly supported by the government. In recent years, advancements in medical technology have led to creation of many splendid pharmaceutical companies throughout Switzerland.