June 7, 2019 / 1:55 PM / a month ago

Switzerland needs to seal EU treaty by June 17 to keep exchanges deal - source

BRUSSELS, June 7 (Reuters) - Switzerland needs to formally endorse a treaty with the European Union by June 17 if it wants to maintain access to the EU market for Swiss stock exchanges, an EU diplomat said on Friday.

The so-called “equivalence” treatment of Swiss exchanges expires at the end of June, but procedural reasons require the EU Commission to make a formal proposal for an extension by June 18, the diplomat said.

This could put further pressure on the Swiss authorities to agree to a new framework treaty with the EU after years of negotiations. (Reporting by Francesco Guarascio @fraguarascio; editing by Philip Blenkinsop)

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