ABSTRACT
The new Swiss President, Arnold Koller was said to have backed Jean Pascal-Delamuraz’s remarks and indicated that he would resist the creation of an interim fund as well. Perhaps more cognizant of the threat facing his country than any other member of the Swiss government, Jagmetti understood the climate he was in and the quickly souring view of Switzerland steadily forming in the US The party expressed fears that the views, expressed by Delamuraz showed Switzerland in an even worse light and asked that the Cabinet distance itself from the former President’s remarks. The Social Democrats, while complaining about the effect of the remarks, could not have been ignorant of their widespread support among the Swiss people. In December 1996, events had flown so fast around the Swiss government and the banks, they could hardly come up for air before they were pulled down again by events well beyond their control.
