Switzerland during the Second World War, a worldwide economical and financial co-operation

Résumé du document

In 1939, there were 363 banks in Switzerland, with a total result of 17.7 billion Swiss francs. To this we had to add 20 billion Swiss francs that were not included in the bank's balance sheets. There were seven major banks, which represented one-fourth of Swiss banks financial results: Société de Banque suisse (SBS), Crédit Suisse (CS), Banque Populaire Suisse (BPS), l'Union des Banques Buisses (UBS), la Banque Fédérale, la Société Anonyme Leu et Cie et la Banque Commerciale de Bâle.

Swiss banks came out of the conflict stronger than ever, largely thanks to the gold and Swiss Franc transactions we will see in this part. Two banks will be taken over by other banks at the end of the war: the Banque Fédérale by UBS, and the Banque Commerciale de Bâle by SBS. Still today, Swiss banks, for example UBS, dominate the world-wide financial scene (La Suisse et les Nazis, Pierre Boschetti).

Extraits

[...] However, it is important to understand that the numbers taken for the Germans are only the official ones: many exchanges were done very informally. Additionally, it has to be noted that the USA was already a much more important country, economically and financially, than Germany. The amount of Swiss Francs exchanged thus has to be compared critically, taking into account the relative size of each of the two countries. The allied mainly bought Swiss Francs to buy Swiss made products, including high-tech war machinery and to finance actions towards war victims. [...]

[...] Italy and Germany jumped on the occasion to coerce Switzerland into making financial concessions. The most important of these was for Switzerland to clear Germany's debt. This would allow Germany to fuel its war effort. In 1941, under pressure from Axis powers, the Swiss clear Germany's debt towards them. From 1943 onwards Germany starts to lose ground in the war. Switzerland continues to trade financially with them, but they also start to privilege the Allies. With the liberation of France in 1944, Switzerland is no longer surrounded by Axis powers, but does not seem more inclined to stop trade with Germany. [...]

[...] Switzerland during the Second World War, a worldwide economical and financial co-operation I. The Swiss Banking Sector and the Swiss Franc A. The Banking Sector in Switzerland In 1939, there were 363 banks in Switzerland, with a total result of 17.7 billion Swiss francs. To this we have to add 20 billion Swiss francs that were not included in the bank's balance sheets. There were seven major banks, which represented one-fourth of Swiss banks financial results : Société de Banque suisse Crédit Suisse Banque Populaire Suisse l'Union des Banques Buisses la Banque Fédérale, la Société Anonyme Leu et Cie et la Banque Commerciale de Bâle. [...]

[...] Web Feb "La Suisse Pendant La Seconde Guerre Mondiale." Cliotexte. Web Feb "La SUISSE Pendant La Seconde Guerre Mondiale." La Suisse, Le National- socialisme Et La Second Guerre Mondiale. Web Feb "Labor Aspects of World War II." Howstuffworks "History" 27 Feb Web Feb Raff, Amedea. "Maîtriser La Crise De Façon équitable Et Solidaire (Control the Crisis Equally and with Solidarity)." Horizons Et Débats N°43 (2008): 4. Print. "Seconde Guerre Mondiale - La Suisse Pendant La Seconde Guerre Mondaile - Cours En Histoire Sur Letudiant.fr." L'Etudiant. [...]

[...] The Swiss Franc The Swiss Franc was an especially important and very sought-after currency during the Second World War. Before the war, the franc had already cut a place in the international financial scene, with the Sterling Pound and the French Franc. However, when the war started, the Swiss Franc was the only strong currency from a non-belligerent country, and thus, the only stable one. There were three means to buy Swiss Francs: by selling gold to Swiss commercial banks, by selling gold to the Swiss national bank or by selling local currencies against Swiss Francs. [...]