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
TheStreet Open House

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 This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs