“The situation is very worrying,” he said. States with the highest debt ratios risk reacting with a rise in prices, to the detriment of savers and old-age pensions, warns the former boss of UBS.
A better solution would be to pay off these debts through increased tax revenue, he said. Unfortunately, growth does not seem to be there at the moment. Rather, a recession is looming.
Switzerland in a good position
Despite everything, Switzerland is doing relatively well. Debts are lower than in other countries, thanks in particular to the debt brake, explains the economist. The real estate market situation is balanced, with private mortgage debt offset by private wealth.
As for the oligarchs whose fortune is in Switzerland, Marcel Rohner believes that the Swiss banks have done their duty.