According to a report from national news service, Swissinfo.org, the current incumbent (and future head of the Interior Ministry), Pascal Couchepin is known to have been seeking a new portfolio for some time, a fact which some observers have attributed to the decreasing importance of the role of the Economcs Ministry in Swiss society.

However, Mr Deiss appears perfectly happy with his new position in government, and Swissinfo on Friday quoted him as observing that the move provides him with a good opportunity to 'return to my main area of expertise, since I'm an international economist.'

He added that the new post also presents a 'good challenge for an economist to take over this portfolio at a moment when our country faces economic problems, and needs a lot of structural reforms'.