Walter Wittmann was interviewed by Cash.

He states blankly that Brady Dougan and Urs Rohner from Credit Suisse should have gone following the fine of USD 2.8bn from the US. They cannot manage a company without knowing what is happening inside, this would mean that they have no control of the company.

He stresses his view that the US have an advantage over Switzerland not only in the financial world, but also in the broader economy as they depend on the US market. Companies such as Nestle and Novartis are doing 40% of their business in the USA.

He feels that Singapore is still a safe place. The US and EU have less grip there and China has no interest in changes.

He also comments on the consolidation of banks and the Swiss mortgage market.