MNI BRIEF: Trump Likely To Let Powell Serve Full Term-Moore

MNI BRIEF: Canada Household Debt Tops $3 Trillion In 3Q

MNI BRIEF: Trump Likely To Allow Powell To Serve Term - Moore

MNI BRIEF: China To Keep Stabilising Housing Market - CEWC

MNI BRIEF: China Focus On Boosting Consumption In 2025

MNI BRIEF: China To Cut Rates, Boost Borrowing-Work Conference

MNI: US JOBLESS CLAIMS +17K TO 242K IN DEC 07 WK

MNI: US NOV FINAL DEMAND PPI +0.4%, EX FOOD, ENERGY +0.2%

MNI: CANADIAN OCT BUILDING PERMITS -3.1% MOM

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2024 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

Confederation President Berset Announces Year-End Resignation

SWITZERLAND

President of the Swiss Confederation Alain Berset has announced that he will stand down from his position on the seven-member Federal Council at end-2023. While the President of the Confederation is a ceremonial position, the Federal Council is the joint head of government and state and its members sit as the senior-most politicians in the country. Given the collegiate nature of decision-making in Switzerland, the resignation of a single individual is unlikely to notably shift the country's policy direction.

  • Berset, hailing from the centre-left Social Democratic Party was the longest-standing Federal Council member, having held his position since 2012. His resignation follows the 2022 resignations of other experienced members, Ueli Mauer from the right-wing populist Swiss People's Party (SVP) and another Social Democrat, Simonetta Sommaruga. With Berset resigning, SVP member Guy Parmelin will become the longest-serving councilor.
  • The next election to the Federal Council takes place on 13 December, and follows the nationwide elections to the 200-member National Council on 22 October. The composition of the National Council has a bearing on the party breakdown in the Federal Council.
  • The Social Democratic Party currently has two seats on the Federal Council, and with polls pointing towards the party retaining second place in the National Council, this will likely remain the case post-election.
  • As such, it is likely that Berset will be replaced by another Social Democratic Party candidate who is also from the French-speaking community.
Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets
Homepagemarkets-real-timePolitical Market NewsPolitical RiskPolitical Risk BulletBulletMarketsFixed Income BulletsForeign Exchange Bullets

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.