Protestors target UBS and the "bank billion rip-off"

About 400 people gathered in Zurich and 70 people in Geneva on Thursday evening to demonstrate against UBS and what they call the "bank billion rip-off."

In a chorus of whistling and catcalls in front of UBS buildings, protestors expressed their anger over the federal government's SFr68 billion ($58.6 billion) rescue package for the country's largest bank.

Million-franc bonuses for bankers also came under fire.

Protestors demanded transparency in setting bank salaries and that no one be paid more than SFr500,000.

Both demonstrations were peaceful. The centre-left Social Democratic Party, the Green Party, and the Swiss Federation of Trade Unions organised the Zurich demonstration. In Geneva, the Communist party was also involved.

Comments

Place your comment

It is clear that people around the world are outraged about the financial crisis and are holding bankers accountable, however I would urge the the protesters in Switzerland to rethink their strategy as everyone knows that banking is a major force of employment in Switzerland and if bankers can not pay competitive wages and bonuses to attract talent then the Swiss banks will lose those bankers to other countries and thus a snowball begins which then the Swiss banks have to lay people off and slowly but surely the other countries will start hovering like vultures which Germany and France are doing already. So as a Swiss citizen,the protesters have every right to show their disgust at current situation but they should also realize that their protests should benefit Switzerland and its people which i respectfully disagree that their current approach is achieving that.