Watch magnate Nick Hayek does not want Switzerland to become a vassal of the US and the EU. But that would take courage, as he emphasizes now.
“The Oval Office show was not a Tell performance, but a display of vassals,” criticizes Swatch Group CEO Nick Hayek in the ‘Neue Zürcher Zeitung’.
Switzerland asked to pay up
Switzerland presented US President Donald Trump with his basket full of gifts, just as he wanted, the Biel watch magnate continued.
“We receive help from the US when we do what the US thinks is right,” Hayek continued.
From the outset, the aim was to make wealthy Switzerland pay up, and this worked.
Rejecting charitable aid
The image showing Swiss business leaders standing before Trump’s desk is testament to their willingness to bow down in order to reduce US punitive tariffs from 39 to 15 percent.
This was not pragmatism, but opportunism, Hayek continued. Switzerland had allowed itself to be taken advantage of by the US to a certain extent, the businessman emphasized.
But Switzerland does not need merciful help from outside, which would have been the better message, Hayek continued.
A lot of inventiveness
“We have the best political system; the people control politics. A federal system that protects minorities. We have a strong currency, low debt, a functioning infrastructure, a good education and training system, pragmatic trade unions, great universities, no elites who isolate themselves,” he listed as Switzerland’s strengths.
Many small and large companies and entrepreneurs, as well as a great deal of inventiveness, all of which testify to courage and independence.
Fight without arrogance
The 71-year-old also criticized official Switzerland for spreading the image of a country that is somehow inferior.
The federal government in Bern paints a picture of a weak country that should not fight because it can only lose anyway.
“But we should – without any arrogance – at least consider fighting,” Hayek continued.
Hayek also under US pressure
The same mindset prevails in dealings with the European Union (EU) as with the US.
Brussels will be looking closely at how Switzerland allowed itself to be blackmailed by the US.
“If we don’t give in as much as possible, we lose. Here, too, we see anticipatory obedience,” the watch entrepreneur told the NZZ newspaper – currently under pressure from an activist investor from the US due to poor business figures.
Hold back on compromise
Compromise is a cornerstone of the Swiss system.
But before compromising, the country should at least try to assert its position.
“You don’t start with compromise in mind,” he made his point clear.
Switzerland should be more courageous and not act like a vassal.
November, 26/2025/kut./ena.
