Swiss government agrees wage protection package to buttress EU deal - Headlines news and analysis from Global Banking & Finance Review
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Swiss government agrees wage protection package to buttress EU deal

Published by Global Banking & Finance Review

Posted on March 21, 2025

1 min read

· Last updated: March 21, 2025

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Swiss Government Adopts Wage Protection to Support EU Deal

ZURICH (Reuters) - Switzerland has adopted a package of measures to protect workers' pay, the government said on Friday, potentially removing an important obstacle to the country approving a new agreement aimed at deepening ties with the European Union.

The measures will be included in a consultation draft for the EU agreement, after employers' associations and trades unions and the cantons agreed to 13 steps to protect high wages in Switzerland from being undercut by EU workers.

The Swiss government said it was also proposing a further measure to add to the package.

Switzerland and the EU in December unveiled a deal to overhaul their trade ties, although there were major concerns from unions about Swiss wages coming under pressure.

The measures are aimed mainly at EU-based firms which set up operations in Switzerland and intended to protect wages.

(Reporting by John Revill; Editing by Dave Graham)

Key Takeaways

  • Switzerland introduces measures to protect workers' pay.
  • The package aims to ease approval of a new EU agreement.
  • Employers, unions, and cantons agreed on 13 steps.
  • The measures target EU firms operating in Switzerland.
  • A further measure is proposed to strengthen the package.

Frequently Asked Questions

What is the main topic?
The article discusses Switzerland's adoption of wage protection measures to support a new trade agreement with the EU.
Why is Switzerland adopting these measures?
To protect high Swiss wages from being undercut by EU workers and to facilitate the approval of a new EU trade agreement.
Who agreed on the wage protection steps?
Employers' associations, trades unions, and the cantons agreed on the 13 steps to protect wages.

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