Switzerland Today
Greetings from Lausanne!
Europe’s energy crunch is making the Swiss authorities extremely nervous. Power cuts lasting several hours could occur this winter, we have been warned. The government has cautioned against exaggerating the risks but is getting prepared with a voluntary gas savings target of 15% for the winter, an energy-savings plan for households and businesses and a hydropower reserve to help bridge any electricity supply shortages.
Despite the current emergency, the long-term picture is quite positive. The share of renewable energy consumed in Switzerland continues to rise steadily, and Swiss-produced hydropower remains the cornerstone of Swiss energy policy. New figures released today show that 80% of the energy consumed in Switzerland comes from renewable energy sources – mostly hydropower (68%), followed by solar, wind and biomass (11%).
In the news: Europe’s energy crunch and CERN, a fatal hiking accident and another Credit Suisse lawsuit.
- Swiss President Ignazio Cassis sent his “warm congratulations” to the new Conservative Party leader and UK Prime Minister, Liz Truss, who was appointed today. In a tweetExternal link, Cassis said he looked forward to “working together to further strengthen our long-standing partnership and economic cooperation in the months ahead”.
- Europe’s energy crisis is threatening to slow fundamental particle physics experiments at the European Organization for Nuclear Research (CERN), located near Geneva, according to the Wall Street Journal. The paper reported on Sunday that CERN officials were drafting a plan to pause experiments at CERN at periods of peak demand. The proposal will reportedly be presented at the end of September to governments that fund the organisation.
- A 14-year-old Italian boydied on Sunday while hiking in the Blenio Valley mountain region in southern Switzerland. Two other teenagers who tried to save him were seriously injured.
- The Swiss branch of Russia’s Sberbank has been sold to the Geneva-based m3 Groupe Holding company, freeing the bank from intensive supervision by Swiss financial regulator.
- Credit Suisse began its defenceExternal link in a Singapore court on Monday against a lawsuit filed by formerGeorgian Prime Minister BidzinaIvanishvili alleging the bank’s local trust did not properly protect his family’s investments, leading to losses.
- The share of renewable energy consumed in Switzerland continues to rise. In 2021, it representedExternal link 80% of final consumption, of which 68% was hydropower. About 79% of this electricity was produced in Switzerland.
Some Swiss Covid news
Covid certificates are valid in Switzerland for nine months. Most are due to expire soon, and this could pose problems for people traveling abroad to certain countries who have to give proof of vaccination.
The authorities therefore updated the Covid mobile phone app and certificate details on Monday, Swiss public radio, RTS, reportedExternal link. Henceforth, the “Validity in Switzerland” field will no longer be displayed on the Covid certificate. The application will indicate the date of the last vaccination or the last test.
The app will show the number of days or hours since a vaccination or test. Certificate holders should therefore be able to determine more easily whether their document complies with the rules of their country of destination.
At the time of writing, a Covid certificate is needed, for example, when travelling to the United States, Tunisia, Thailand, Morocco or Brazil. It is possible that the Covid application may be needed in Switzerland in the future if the health situation worsens.
In a Covid-related development, the University of Zurich released interesting new Long Covid research today. Young people who get a mild dose of Covid sometimes suffer temporary symptoms such as tiredness, loss of smell and taste or reduced fertility. These usually improve over time.
But a new studyExternal link using army personnel shows that after catching Covid young people are likely to have higher cholesterol and body mass index (BMI) levels, and a reduced level of physical stamina. As a result, they may be more likely to develop metabolic disorders and cardiovascular complications in the long term.
Swiss economy slows but stays in the black
Switzerland’s economic output slowedExternal link to 0.3% between April and the end of June, compared to the first quarter of the year.
The manufacturing, construction, trade and financial services sectors all showed signs of weakening in the face of energy shortages and rising inflation.
The lifting of pandemic restrictions boosted the tourism trade and the hotel, restaurant and transport sectors. Consumer spending also picked up during the spring and early summer as inflation just started to kick in.
But manufacturing suffered a -0.5% downswing in output, led by the chemicals and pharmaceuticals industries. A -2.1% reduction in trade, -1.7% for construction and a -1.5% reversal for financial services also held back an economic recovery.
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