This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Swiss Nationalists Want Swift Limit to Immigration

GENEVA -- The nationalist Swiss People's Party called Sunday for swift action to prevent a mass influx of foreigners to Switzerland this summer, when a temporary limit on immigration from eight Eastern European countries expires.

The demand comes a week after Swiss voters narrowly backed the party's plan to cap immigration for all types of foreigners, including those from the European Union, within three years.

"We are facing a massive wave of immigration," the head of the People Party, Toni Brunner, said in an interview with Swiss weekly Schweiz am Sonntag, citing the surge of foreigners who arrived when Switzerland opened its borders to workers from 15 EU countries in 2008.

The agreement was meant to extend to citizens of Estonia, Latvia, Lithuania, Poland, Slovakia, Slovenia, Czech Republic and Hungary from June 1, and to Bulgaria and Romania in 2016.

But the outcome of the Feb. 9 referendum means the Swiss government needs to revise its treaties with the European Union, setting Bern up for difficult negotiations with Brussels in the coming months. Although Switzerland isn't a member of the 28-nation bloc, it has adopted many of its policies in order to facilitate trade and scientific cooperation with its EU neighbors.

Swiss Justice Minister Simonetta Sommaruga warned after the referendum that her country would be unable to extend to Croatia the agreement on free movement of workers, as planned. That nation is the EU's newest member. Sommaruga officially informed the Croatian government of this in a phone call Saturday.

A meeting between Swiss Foreign Minister Didier Burkhalter and German Chancellor Angela Merkel in Berlin on Tuesday is expected to focus on the impact that the referendum will have on relations between the two countries. More than a quarter of a million Germans live and work in Switzerland, and Germany is the Alpine nation's biggest trading partner.

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $132.65 1.82%
FB $81.91 0.47%
GOOG $555.37 -1.71%
TSLA $231.55 6.01%
YHOO $44.36 -0.36%

Markets

DOW 18,037.97 -42.17 -0.23%
S&P 500 2,108.92 -8.77 -0.41%
NASDAQ 5,060.2460 -31.8390 -0.63%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs