December 21, 2017 / 12:25 PM / 9 months ago

Swiss call EU move on exchange rules unacceptable

ZURICH, Dec 21 (Reuters) - Swiss President Doris Leuthard accused the European Union of trying to undermine Switzerland as a financial centre by granting its stock exchanges only limited access to the EU single market and said Bern would ready retaliatory measures.

She told reporters on Thursday the finance ministry would propose steps by the end of January that could include halting collection of stamp duty on transactions to make Swiss exchanges more attractive. She said the government would review its plan to contribute an extra 1.3 billion Swiss francs ($1.32 billion) in development funds for newer EU members.

EU member states agreed on Wednesday to grant Swiss exchanges only temporary access to the bloc’s internal market, two EU officials said, part of a broader deal aimed at defining Bern’s ties with the bloc.

$1 = 0.9881 Swiss francs Reporting by Michael Shields

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