On June 23, the Swiss Bankers Association (SBA) invited representatives of the Schweizerischer Gewerbeverband (Swiss Small Business Association) and Swissmem (Federation of Swiss Machine, Electrical and Metalworking Industries) to discuss possible solutions to the current state of the Swiss credit market.
The current situation, including potential solutions, were analysed and developed in keynote presentations by representatives from academia, government, finance and trade and industry. One highlight was an open debate on the perspectives and challenges facing the financing of trade and industry in Switzerland.
These contributions were followed by a collaborative debate in which current expectations were formulated and findings summed up as the basis for recommending possible courses of action.
One of the conclusions drawn by the SBA was that Swiss credit markets are in good condition and that there is no indication of a general credit shortage. Furthermore, although individual companies are affected by the credit crunch, individual cases cannot be taken as representative of the credit market as a whole. According to availabe statistics and survey findings, there is no indication of there being a trend towards a credit shortage.
The Swiss Small Business Association shared this view, stressing there was no general credit shortage and advising against any activism on the part of the state. Given the uncertain future course of the economy, the association believes it is important to continue monitoring the situation on the credit market and to continue the dialogue with the financial sector.
Swissmem took a significantly more pessimistic view of the situation on the credit market. Not only was it concerned about the present situation, but also was particularly worried about the possible course of future developments.
Participants agreed to continue monitoring developments closely – in the interests of all those affected – and to maintain a dialogue between the financial sector and trade and industry. Participants agreed that any necessary preparations should be made early so that effective action could be taken immediately should problems arise.
Urs Roth, Chief Executive Officer of the Swiss Bankers Association, called on all participants to 'engage in active and open communication based on trust in both good and bad times'. The other representatives also supported this approach and came out in favour of constructive cooperation between trade and industry and the banks.
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