What are gnomes from Zurich?

Gnomes of Zurich is a term used by the leaders of the British Labor Party at the age of 60 to be condescendingly to refer to the Swiss bankers with the financial headquarters in Zurich. This sentence is to evoke images of Gnomes, who are often greedy creatures in fairy tales and folklore that accumulate treasure and process secret mischief. At that time, various British politicians attributed the fall of sterling or pounds to the Swiss bankers who believed that they were speculating about the exchange rate of the Sterling in such a way as to cause devaluation. The Swiss bankers, whether wine or not, have made an easy scape lamb: the Swiss commitment to secret banking practices has long threw a mystery to his financial practices. So the valves from Zurich were supposed to say that the Swiss bankers were useless.

Gnomes of Zurich became a political catch at the age of 60, its popularity supported the persistent problems with Šterlink. The coin interest in the date of the date attributed them to Gordon Brown, the British economic minister at 60.Years he once said, "Gnom from Zurich again work." Some, however, attribute the term to Harold Wilson, the British Prime Minister in 1964-70. In both cases, both politicians used this phrase to vent their frustration over the belief that the Swiss bankers were playing with the value of Sterling and profiting from its fall.

As the term caught, he came to represent more than concerns about the devaluation of sterling; It became an illustration for how the Swiss banking system works. In the stories, dwarves often dwell in the cave mountains, where they chamstically store treasures and portray incapable schemes. Although they may not be devilish or greedy, Swiss bankers are truly secret treasure guards. Switzerland is known for receiving deposits from the abundant base of foreign investors and imposes flies of the money in the underground, impregnable vaults. Privacy of Swiss Bank AccountsIt is strongly guarded, so much that it is illegal to give up the account holder's identity.

Although some were skeptical about the Swiss banking secrets-the systems could hypothetically use the system to store poorly obtained money-practa was created as a means of protecting honest investors. In 1934, Switzerland adopted bank secrecy as a law to protect German citizens who tried to keep their money outside the Nazi party. Bank privacy has been part of Swiss culture for so long that it now seems to be grafted to the national psyche as the right.

with a coin crisis in the sixties of the last century and referring to the Swiss banker as Gnomas of Zurich lost a large part of his stab, not if it all. Now the term is used in Switzerland as often as U.K., as an honorary reference to the culture of Swiss banking. In fact, Ttermine is so accepted that the Zurich Museum has the presence of its own sculpture Gnome Resident.