The Transport and Telecommunications Commission of the National Council has started looking into two large-scale transportation infrastructure projects. These two programmes are funded by the National Roads and Urban Traffic Fund, which the Federal Council makes submission to Parliament every four years.

The Transport and Telecommunications Commission of the Swiss National Council has started looking at two projects that would cost  13.2 billion Swiss francs over four years to maintain and enhance transportation infrastructure.

The commission took rail infrastructure into account in addition to road infrastructure. The National Council’s Transport and Telecommunications Commission, which supports this use of synergies, has also given its approval to the tunnel project at the Grimsel for a very high voltage line and a narrow gauge.

Earlier this week, The Swiss National Bank’s loans were provided to Credit Suisse for liquidity support.  It was  guaranteed by the Swiss Government to the tune of CHF 100 billion. The federal government will also guarantee UBS with an additional CHF 9 billion to cover any possible losses from the takeover of Credit Suisse assets.

The Federal Council’s recommendations were discussed at an emergency meeting of the Finance Delegation on March 19.

It was proposed  by the president of Switzerland, the director of the Federal Finance Administration, and the head of the Federal Department of Finance (FDF).

Other FDF representatives, the head of the Swiss Federal Audit Office, and representative from the Financial Market Supervisory Authority, the Swiss National Bank, as well as the impacted banks, also took part in the talks.

Galactik Views