by Martin Armstrong, Armstrong Economics:
“Neutral like Switzerland” can no longer be a saying as the Swiss government has announced it is joining the European Sky Shield Initiative (ESSI) to develop a shared missile defense system across Europe. Switzerland is neither an official member of the European Union nor a member of NATO. Yet, the nation forfeited its neutrality stance years ago as Swiss leaders continued to adopt globalist rules.
The ESSI was initially proposed by Germany in 2022 amid the Russia-Ukraine war. The program will integrate with NATO’s Integrated Air and Missile Defense (IAMD) to enhance Europe’s air defenses. The powers that be know war is on the horizon, but they are betting on most of Europe continuing to fight on the same team. Armament chief Urs Loher has signed the memorandum of understanding (MoU), officially making Switzerland the 15th nation to join this coalition.
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Switzerland claims that the MoU does not force it into any binding obligation as the government may choose its level of involvement. The Swiss government also claims that it may withdraw from the ESSI if any member becomes involved in a war. “With its participation in the ESSI, Switzerland is increasing international opportunities for cooperation: ESSI enables better coordination of procurement projects, training and logistical aspects in the area of ground-based air defense,” the government noted in a statement. The initial project will protect Europe against medium-range missiles, but naturally, the plan is to accelerate this technology.
Switzerland lost its tax haven status years ago when it began offering up banking information to foreign governments. Switzerland completely capitulated its historic safe-haven status to the entire world. The country was born from a tax revolt against the Hapsburg dynasty in Austria. The tax collector made William Tell to shoot an apple off his son’s head with an arrow. Switzerland then remained neutral in war and religion, serving as a safe haven for those who would be religiously persecuted. All of that is now gone.
In 2015, the Swiss Senate passed a resolution to exchange ALL information on anyone who has any assets in Switzerland. They have surrendered their sovereignty to this worldwide effort to destroy the entire global economy because politicians can never run any government efficiently.
Of the nation’s three main sectors, the tertiary sector is the most important for the Swiss economy. It includes banking, insurance, and tourism, employing more than 75% of Switzerland’s workforce. Over a fifth of the working population makes up the secondary sector, i.e. industry, trade, and crafts. The machine, metal, watch, and textile industries play a significant role, as do the chemical and pharmaceutical industries, which rely heavily on imports and exports. By far, banking was a major sector at the top of the list.
The Swiss economy was built on its banking expertise and security. That is now gone in the age of hunting cash globally. Consequently, the economy of Switzerland lost its primary competitive advantage economically. Now it must develop industries that are competitive globally. It needs more than chocolate and Rolex watches.
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