The Swiss Foreign Minister Ignazio Cassis has said that it would take a "miracle" for the EU and Switzerland to reach a quick deal over a stalled partnership treaty that has already disrupted cross-border share activity and put a strain on bilateral ties.
Switzerland's Foreign Minister Ignazio Cassis
Swiss Foreign Minister Ignazio Cassis speaking at the UN in February 2018
Mr Cassis made his comments in an interview with the Swiss newspaper SonntagsBlick in which he expressed a pessimistic outlook over prospects for finding an end to the political logjam that Brussels has been seeking for a decade, but Bern has consistently failed to endorse for the last four years.
European Commission President Jean-Claude Juncker has been leaning on politicians in the Alpine country to wrap up negotiations for the accord before the end of his term on 31 October. His replacement, former German Defence Minister Ursula von der Leyen is to replace Mr Juncker as Commission President on 1 November.
However, the outlook from the Swiss perspective does not show promise while Mr Juncker's Commission remains in place.
“An agreement with the current Commission would be a miracle,” Mr Cassis told the newspaper on Sunday.
“I don’t know where Ms von der Leyen stands on the treaty. The EU’s position will probably stay the same, but the tone could change. And with a bit of serenity it will be easier to agree," he added.
Last week, Switzerland's president, Ueli Meurer also expressed a lack of optimism over a quick end to the standoff with the EU.
On 1 July, Brussels put a block on EU-based investors from trading on Swiss exchanges as the disagreement escalated over the treaty, which would see Switzerland, a non-EU member state, routinely adopt EU single market rules and regulations.
Bern retaliated to the block by preventing EU venues from playing host to Swiss stock trading.
Last month, Swiss share trading volumes shot up to the highest in years as the ban forced market participants on to the domestic exchange.
Resistance to the treaty encompasses the political spectrum in Switzerland, from the pro-Europe centre-left to the Euro-sceptic far right, both of which see the pact as a potential infringement of the country's sovereignty.
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