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Switzerland scores top marks as a financial paradise

Switzerland is one of the best-regulated financial paradises in the world, according to figures published on Friday by the Financial Stability Forum.

It stands alongside other financial centres such as Hong Kong, Singapore, Ireland and the Channel Islands in the top group of countries whose fiscal regulations are given top marks for stability and seriousness.

It is the first time the Forum has published a list, and it classifies countries into three groups. The top group, of which Switzerland is a member, is reserved for financial havens with good financial regulations and surveillance.

Monaco and Gibralter only make it into the second group of countries, and Switzerland's tiny neighbour, Liechtenstein, gets a poor rating in the third group alongside the Cayman Islands.

The Forum, which is based in Basel, was set up last year by the G7 nations to improve global financial stability after the 1997 Asian financial crash. Its membership includes those seven countries as well as Australia, Hong Kong, the Netherlands and Singapore.

swissinfo with agencies

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