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Nervous Italians see Swiss vaults as safe haven for their cash

Reuters  |  MILAN/ZURICH 

By Elvira Pollina and Angelika GruberMILAN/ZURICH (Reuters) - Italians worried about political uncertainty are looking across the border to stable Switzerland as a place to park more of their wealth, asset managers say.While Italy's anti-establishment coalition government has stressed its commitment to the euro and pledged not to impose new taxes on its citizens' wealth, a stand-off with the European Union over budgets has left many Italians on edge.Holger Schmitz from asset manager Schmitz & Partner based in Switzerland on the shores of Lago Maggiore has seen business pick up."Since early ...

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First Published: Wed, December 05 2018. 17:21 IST
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