Go Symbol Lookup
Loading...

Gaddafi Wants to Abolish Switzerland

 Text Size  
Published: Monday, 28 Feb 2011 | 9:48 AM ET
By:

NetNet Writer, Special to CNBC.com

Getty Images
Libyan leader Muammar Gaddafi

Switzerland has also moved to freeze the assets of the Libyan regime. But it seems unlikely that Colonel Gaddafi and his cronies would be stashing their wealth in Zurich these days.

Gaddafi has been calling for Switzerland to be abolished since 2009.

Yes, abolished.

Gaddafi believes Switzerland is "a world mafia and not a state," according to Time Magazine. So he submitted a proposal to the United Nations recommending that "the Italian-speaking part of the country should be returned to Italy, the German-speaking part to Germany and the French-speaking part to France."

The United Nations summarily ignored the dictator's proposal, on the quite sensible grounds that it "violates the U.N. Charter, which states that no member country can threaten the existence of another."

Gaddafi's battle with Switzerland seems to stem from the arrest and detention of his son and his son's wife by the Swiss police in Geneva, in July of 2008, on charges of allegedly beating two of their servants at a local hotel.

Time reports that "Gaddafi was so enraged by his son's two-day detention that he immediately retaliated by shutting down local subsidiaries of Swiss companies Nestlé and ABB in Libya, arresting two Swiss businessmen for supposed visa irregularities, canceling most commercial flights between the two countries and withdrawing about $5 billion from his Swiss bank accounts."

__________________________________________

Questions? Comments? Email us atNetNet@cnbc.com

Follow John on Twitter @ twitter.com/Carney

Follow NetNet on Twitter @ twitter.com/CNBCnetnet

Facebook us @ www.facebook.com/NetNetCNBC

 Print
Switzerland has also moved to freeze the assets of the Libyan regime. But it seems unlikely that Colonel Gaddafi and his cronies would be stashing their wealth in Zurich these days.

   
Comments

 

More Comments

 
 

Add Comments

 

Your Comments (Up to 1100 characters):

Remaining characters

Your comments have not been posted yet.

Please review your submission to make sure you are comfortable with your entry.

Your Comments:


                
            
            
        

Featured

Contact NetNet

  • Senior Editor covering Wall Street, hedge funds, financial regulation and other business news.

  • Senior writer for CNBC.com, covering the gamut of issues affecting the stock market and the economy.

  • Stephanie Landsman is the line producer of CNBC's 5pm ET show "Fast Money."

Subscribe

Wall Street