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Free AccessFederal Chancellor Walter Thurnherr To Resign-Tages-Anzeiger
Switzerland's Tages-Anzeiger reporting that Federal Chancellor Walter Thurnherr, in office since 2016, is set to resign at 1330CET. The Swiss chancellor is not the head of gov't as is the case in neighbouring Germany or Austria, but instead is effectively a 'chief of staff' to the seven-member Federal Council, the joint head of gov't and state of Switzerland. Nevertheless, Thurnherr's resignation has been reported as something of a shock given his reputation for effective management of gov't business.
- The long-standing diplomat and bureaucrat is only 60 years old, and has been referred to as the unofficial 'eighth Federal Councillor' due to his presence at all Federal Council meetings (albeit without voting power), with Tages-Anzeiger reporting that "Thurnherr has been considered one of the most influential and powerful people in the Federal Palace for decades." Neue Zürcher Zeitung: "Criticism of him is rare: it is said that he is lightning fast, efficient, loyal and a well-connected "string puller"."
- The vote within the Federal Assembly (the joint houses of the Swiss parliament) to replace Thurnherr will take place on 13 December, the same date as the election to replace outgoing Swiss President and Social Democratic Party Federal Councillor Alain Berset. Thurnherr hails from the Christian democratic 'The Centre' party, which has one member on the Federal Council.
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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.