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    Switzerland is in a state of flux. True, the economy avoided recession following the Swiss National Bank’s (SNB) unpegging of the franc, and its subsequent appreciation against the euro. But perception is everything. And the country’s enduring competitive appeal seems uncharacteristically muted.

    Transparency, regulation and consolidation are clearly taking their toll on Swiss banks, while some multinationals remain wary of the anti-business narrative emerging from populist referenda. For Swiss lawyers, the outlook is therefore uncertain.