Switzerland narrowly votes to curb immigration
Known as the initiative to “stop mass immigration,” it was put forth by the country’s right-wing Swiss people’s Party (SVP). The measure passed with around 50.3 percent of the vote, according to Swiss television station SRF.
The referendum’s outcome, however, threatens not only to hurt Switzerland’s economy, but also its relationship with the EU.
Although it is not a member of the European Union, Switzerland’s immigration policy has granted EU citizens the right to move freely and work within its borders for the past 12 years.
In addition to calling into question Switzerland’s bilateral agreements with the EU, critics of the measure have argued that it will exacerbate a shortage of skilled workers in the country, which is the home of Roche, UBS, Nestle and other multinationals dependent on foreign professionals.
“Explanatory and constructive talks with the EU are needed urgently,” the Swiss Banking Association tweeted after the result was announced.
(FRANCE 24 with REUTERS, AP)
