Switzerland

The Swiss Confederation was founded in 1291 as a defensive alliance among three cantons. In succeeding years, other localities joined the original three. The Swiss Confederation secured its independence from the Holy Roman Empire in 1499. A constitution of 1848, subsequently modified in 1874, replaced the confederation with a centralized federal government. Switzerland's sovereignty and neutrality have long been honored by the major European powers, and the country was not involved in either of the two World Wars. The political and economic integration of Europe over the past half century, as well as Switzerland's role in many UN and international organizations, has strengthened Switzerland's ties with its neighbors. However, the country did not officially become a UN member until 2002. Switzerland remains active in many UN and international organizations but retains a strong commitment to neutrality.

Economical characteristics

 * Currency: Swiss franc (ISO code: CHF)
 * Central bank discount rate: 0.05% (31 December 2008)
 * Commercial banks lending rate: 3.34% (31 December 2008)
 * Stock of money (M1): $275.5 billion (31 December 2008 est.)
 * Quasi money (with M1 makes M2): $454.2 billion (31 December 2008 est.)

Notable events:

 * Banking crisis: 1870-1871, 1910-1913, 1931, 1933

Links

 * Switzerland on Wikipedia
 * Central bank of Switzerland
 * BBC country profile
 * Citizenship in action by Geoffrey Wheatcroft, January 2009
 * Neither Nationalist nor Socialist by Walter Olson, October 1998
 * The Secret of Swiss Prosperity by Dean Russell, February 1984
 * Swiss Parliament to discuss gold franc by Agnese Smith, July 2011
 * Swiss Ponder Battle Over Runaway Franc by Simone Meier, August 2011
 * Franc Plunges Most Ever Versus Euro as Central Bank Draws Line, Bloomberg, September 2011
 * Swiss finished?, 'America arm-twists the bulk of Switzerland’s banks into a painful deal', The Economist, September 2013
 * 9 Reasons Libertarians Should Love Switzerland by Corey Iacono, January 2015
 * Going cuckoo for the Swiss by Buttonwood, January 2015