Switzerland Today
Dear Swiss Abroad,
In today’s briefing we look at departures – both personal and institutional. Young Swiss are leaving their parents’ homes later than ever, and UBS could one day leave Switzerland altogether, according to a professor of economic law.
We also cover a new popular initiative calling on Switzerland to recognise the State of Palestine, and a Swiss writer living in New York who has won Germany’s most prestigious literary award with her book Die Holländerinnen ("The Dutchwomen").
The new capital requirements planned by Swiss authorities have not gone down well with UBS, and the prospect of the bank relocating its headquarters abroad is no longer unthinkable.
Is it really possible for UBS to leave Switzerland? “It is,” said Henry Peter, professor of economic law at the University of Geneva and a board member of several banks and insurance firms. He emphasises that the real problem is not what many think – namely, that UBS wants to “blackmail” the government to avoid the crackdown on equity by saying: “If you insist, we will leave”. The central actors are the shareholders, 70–80% of whom are foreign.
“If they have the impression that by going abroad, and they decide this, their investment would be worth more, because it would not be subject to these requirements, they might decide to move. Another option would be to accept a takeover offer. There are certainly banks interested in buying UBS,” Peter told RSI.
The consequences of such a move would be significant. While UBS might lose only a small share of loyal Swiss clients, Switzerland would face the loss of about 15,000 jobs, substantial tax revenues and banking services provided to around a third of the country’s companies, Peter warns.
Young Swiss are leaving their parents’ homes increasingly late. This is especially true for young men who complete vocational apprenticeships.
According to data from the Federal Statistical Office (FSO), half of those born between 1988 and 2007 were 23.7 before they left home, compared with 21.8 for those born between 1968 and 1987.
Overall, the majority of young people in Switzerland move out between the ages of 20 and 30. On average, a quarter of them have already packed their bags by 20, almost 70% have left by 25, and about 90% by 30.
In addition to age, gender also plays a decisive role. Men take longer to leave home than women: 23.4 years on average compared with 21.9.
Regional differences are also clear: young people from Italian-speaking Switzerland move out latest (median age 24.4), followed by French-speaking Switzerland (22.8) and German-speaking Switzerland (22.5).
Even after leaving the nest, many stay close by: almost a quarter (22%) live within ten minutes of their parents, almost half (48%) within half an hour and 61% live within an hour. Only 22% live more than five hours away.
Zurich-born author Dorothee Elmiger has won the 2025 German Book Prize for her novel Die Holländerinnen (The Dutchwomen).
Elmiger, born in 1985 in Wetzikon (canton Zurich) grew up in canton Appenzell Inner Rhodes and studied political science in Berlin and Lucerne. She now lives in New York. Die Holländerinnen is her fourth book, blending detective fiction, horror and theatrical elements with reflections on writing and modern life.
The award-winning novel is about a writer who sets off with a documentary theatre group to trace two Dutch women who vanished in the South American jungle – but the project becomes a journey into the heart of darkness.
“The novel touches on themes such as the controversial fascination with violence and unsolved cases, and the aspiration to want to bring order to the world through storytelling,” writes SRF literary editor Simon Leuthold. “The varied narrative style demands a lot from the reader, but those who take up the challenge will be rewarded with countless allusions and figurative gems to discover,” he said.
A coalition of civil society representatives, lawyers and left-wing politicians has launched a popular initiative calling for Switzerland to officially recognise the State of Palestine.
The group must collect 100,000 signatures by April 14, 2027, to put the proposal to a nationwide vote.
It has been 76 years since Switzerland recognised Israel. Recognition of Palestine, say the organisers, is “an essential step towards a just and lasting peace in the Middle East, based on equal rights for all peoples”. They note that 80% of UN member states have already recognised Palestine.
If successful, Switzerland would become the first country to let its citizens decide on such recognition.
Following yesterday’s peace agreement in Egypt aimed at ending the Israeli-Palestinian conflict, Foreign Minister Ignazio Cassis said: “We will work for the establishment of a Palestinian authority with a view to the creation of a Palestinian state.”
Until now, the government has said recognition could only be considered once concrete steps towards a two-state solution had been taken.
Translated from Italian using DeepL/amva/ts
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