The importance of Switzerland’s vote to reimpose quotas on EU immigration on Sunday “cannot be underestimated”, says Allister Heath in City AM. The referendum result, which was decided by just 50.3%, is a “major victory” for Eurosceptics who dislike every aspect of the EU. British Eurosceptics who want to renegotiate a new relationship with the bloc will “be watching carefully”.
As for Switzerland, the demand for housing will now fall – which is what voters wanted – but it will also be “hit by labour shortages, which could cut growth, push up wages, inflation and interest rates, further boosting [...]
Want to read this article now?
Already a MoneyWeek subscriber? Please log in below.
Not a subscriber? Sign-up now for a 3 week FREE trial to get instant access.