By William Markiewicz

The Swiss angrily claim that the whole issue of Jewish funds, Nazi funds, is only a pretext for the American banks to take business away from them. But all vulnerable situations await only a pretext to explode with consequences. Pretext or not, because of this issue, the financial world suddenly realises that nobody needs the Swiss banking monopoly anymore. Up to now the status quo was acceptable due to inertia. Fifty years after the Swiss/Nazi wartime flirtation this obvious but ignored fact unveiled itself: that Swiss power is a soap bubble, that Switzerland is a tiny country possessing nothing but the virtual power of banks and this only because of the world's acceptance. In other words, Switzerland has no real power to apply pressure in any direction. Suddenly it finds itself nowhere, in a twilight zone, and this is a terrifying revelation. Swiss importance is at risk of suddenly shrinking to its real proportions and Switzerland may become one more small central European country, like Slovenia, an Alpine representative of the Balkans extended to the north and obliged to work hard as never before to maintain its standard, through industry more than through banking.

Perhaps twenty years ago or more (I'm not sure of the time) there was a financial guru who reigned over the New York stock market. His psychological power was so overwhelming that he dictated the market's rise and fall and nobody questioned his reasons. The world just waited and trembled. Certainly he must still be remembered by somebody in the financial world. Only after he showed up one day wearing a white robe and carrying a stick did people realise that he was a nut and the magic bubble burst immediately. Even if Switzerland offers a complete 'mea culpa' it may be too late to stop the bells that toll for banking fortress Switzerland. The world of theories is probably dead. There are no more issues of Communism, Nazism, Europe, or myths ... all is purely a matter of power and power resides in America. The wrestling match initiated between America and Switzerland is not ready to be interrupted or neutralised and Switzerland - like Tangier, like Trieste - may already belong to the past. The Swiss may now start to look for salvation in joining the European Union which they so strongly tried to avoid until now. Swiss pride may suffer as much as its economy. The ways of their rude and independent peasant ancestors are still alive in Switzerland. Anybody who deals with them on a daily basis can confirm it. Falling from the pedestal is humbling and overpopulated Switzerland may become underpopulated in years to come.

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