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Swiss bank lobby urges government to consider ending talks on EU funding

Wants market access

Switzerland's banking lobby today called on the government to end talks with the European Union about continuing to contribute to the EU budget unless Brussels eases market access for Swiss banks.

"The association advocates open markets and insists on recognition by the EU of equivalence for relevant Swiss laws," the Swiss Bankers Association said in a statement.

"If equivalence in the area of finance cannot be provided, no in-depth discussions should be conducted with the EU about the cohesion contribution."

Non-EU member Switzerland's cohesion payments to the EU budget have in the past helped fund development projects in eastern European EU members.

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