An expensive lesson for the Federal Council

The Drama of the Swiss deep-sea fleet has no end. In 2017, the Confederation had to raise 215 million Swiss francs, to pay the debts of private shipping companies. Now another ship owner is out of money. Here, too, the taxpayer has a duty. This time, the bill amounts to 129 million Swiss francs. And all because the Federal government believed that there was a State mission to encourage entrepreneurs with almost unlimited loan guarantees for the purchase of ships.

What can we learn for Switzerland from this case? Numerous parliamentary bodies have caved in to the thing. Their conclusion is unanimous as to understand. Hands away from guarantees! In fact, the Instrument has significant pitfalls: The state is from the start fully in the risk. It comes to problems, but he is hardly in the position to influence. Let alone, to be free from the obligation. Guarantor is choking.

However, it would be a mistake to banish the Instrument of guarantees, in principle, from the political tool box. Firstly, because the for the high-seas fleet responsible Federal office by his persistent Ignoring of the contributed risks significantly to the financial loss. On the other, because of the Federal have proven guarantees about the promotion of the non-profit housing. First of all, the risks here are more control than in the Maritime trade, with its own laws. Secondly, the public Benefit of a cheap supply of rental properties is undisputed, unlike in the case of a deep-sea fleet.

not only a Federal guarantee has been since the introduction of the housing loan guarantees in 2003 due. The state has therefore achieved a positive effect, without having to spend money. If the Federal Council renewed but in 2020, the housing loan, he must draw the Lessons from the deep sea debacle, and pre-risk management improve. Because in residential buildings the guarantees did not amount to a few Hundred million. But soon, of 3.5 billion Swiss francs.

Created: 07.11.2019, 20:57 PM