But officials said a deal between Switzerland and the EU would likely not be reached until the terms of Britain`s future relationship with the Bloc are set because Brussels has refused to make Swiss concessions that Britain could make. Opponents of the proposal said the result was Switzerland`s support for open bilateral relations with the EU. You said that voters were concerned about the economic cost of ending free movement during the coronavirus pandemic. Switzerland, which is not part of the EU, has a patchwork of 120 sectoral agreements with the Bloc and the two sides have spent years negotiating a framework agreement. These bilateral agreements between the EU and Switzerland are currently managed by some twenty joint committees. In total, there are currently more than 100 bilateral agreements between the EU and Switzerland. As the Federal Council has not yet been able to sign the negotiated agreement, the European Commission has already reacted with retaliatory measures. As of 1 July 2019, the EU no longer recognises Swiss stock exchange regulations as equivalent to EU stock exchange regulations. This is a purely political maneuver, for which there is no objective reason. The UK`s withdrawal from the EU will have consequences for Switzerland`s relations with the UK. Switzerland wants to maintain its close ties with Britain beyond Brexit. Brussels has always told the Swiss that they cannot make a peck at each other: no free trade without free movement. Today, Swiss voters have shown that they think a deal is reasonable.
On 6 September 27, 2011, the Swiss franc was effectively pegged against the euro: the franc had always sunk independently of each other until its monetary appreciation became unacceptable during the eurozone debt crisis. The Swiss National Bank has established a chf/EUR commitment including a floor rate of CHF 1.20 against the euro, with no ceiling. The Bank is committed to maintaining this exchange rate to ensure stability. The commitment was abandoned on 15 January 2015, when the new upward pressure on the Swiss franc exceeded the bank`s tolerance level.  The history of Switzerland`s bilateral involvement in the European Community has taken place in four main parts. In 1972, Switzerland signed a free trade agreement with the then European Economic Community, which entered into force in 1973.  On 31 January 2020, the UK officially left the EU. However, nothing will change for the time being in relations between Switzerland and Great Britain. The seven agreements are closely linked by the obligation to enter into force simultaneously and, at the same time, six months after receipt of a notification of non-renewal or denunciation concerning one of them.  In the field of foreign and security policy, Switzerland and the EU have no cross-cutting agreements. .