If Switzerland is to receive some kind of deal with the European Union about the so-called equivalence of its stock exchange, it will probably be a temporary one. That’s at least what Swiss Finance Minister Ueli Maurer suggested after his meeting with European counterparts in Brussels.

«The question is: temporary or final? Probably, it will tend to be a temporary extension by one year,» he said in Brussels, according to a report by the Swiss television station «SRF». He is convinced that the Swiss have enough allies in the EU to reach such a deal.

Institutional Framework Agreement

But even such a temporary extension for the stock exchange will be a challenge to get if Switzerland doesn’t offer something in return. The two sides are working on an institutional framework agreement to replace a number of earlier treaties.

The Swiss exchange, operated by SIX, relies heavily on the recognition of equivalence by the EU and is eager for the government to reach a deal. Ueli Maurer is a representative of the Swiss People's Party, which is opposed to closer ties with the European Union.