GENEVA, SWITZERLAND – A pedestrian was killed in Vaud and a scooter ride died in Geneva this week. Police in Geneva are looking for a hit-and-run driver who critically injured a cyclist Saturday.
Also in Geneva, neighbours of the airport are obliging Genève Aeroport to respect the 22:00 noise curfew.
A 43-year-old Swiss man who lives in the area died Monday when he was hit by a semi-trailer truck on the Rue de Crissier in Renens near the TL Renens Gare-Nord. The 35-year-old driver, a Portuguese man who lives in the area, was treated for shock. The road was closed for the investigation for some time after the accident.
A 72-year-old man is in critical condition following a cycling accident Friday near 1, Avenue Aïre. He was hit by a car door that opened as he rode past, and he fell to the ground hard.
In a separate road accident, Geneva police are seeking the driver of a car who hit a cyclist at 04:00 Sunday, critically injuring the 25-year-old bicycle rider. The accident occurred at 73, Route de St George, with both heading in the direction of Pont Butin. Police are asking anyone with information to contact the nearest police station or phone +41 22 427 64 50.
Geneva airport noise: today’s level is limit
The Tribune de Genève reports that the noise level at the airport in Geneva between 22:00 and midnight has reached the limit acceptable to the canton. It’s not a matter of cutting back on flights, but of ensuring that the noise levels in future do not increase.
Generic meds: 47% higher cost than abroad
Generic medicines in Switzerland are twice the price elsewhere, says one report; the economic forecast from Credit Suisse shows a slowdown in growth; bad news on the horizon for former Americans wanting to leave money to Americans – for example, their children.
Santésuisse, which represents health insurance companies, says that Swiss patients could spend significantly less on medications, and thus on health insurance, if the price of generic medicines goes down. They cost twice as much in Switzerland as abroad, in general; brand name drugs cost 10% more.
Negative interest rates: rise in some real estate investment
Credit Suisse has lowered its outlook for Swiss economic growth in 2016 from 1.2% to 1%. “The strong Swiss franc will continue to have an adverse impact on the export sector in 2016 and the domestic economy will therefore see a further slackening of growth momentum.” The bank has also published a report on the impact of negative interest rates, noting that
“negative interest rates are beginning to have the impact on CHF investors and foreign banks that the SNB intended. Using survey data, Credit Suisse economists also show that negative interest rates have only partly boosted investment by small and medium-sized enterprises (SMEs) in Switzerland. However, the severe shortage of investment opportunities caused by negative interest rates is leading to a rise in high-yield real estate investment. The economists estimate that negative interest rates are providing around CHF 1 billion of relief annually in the area of government spending but point out that they are also creating long-term risks in the funding of retirement provision that could potentially place an additional burden on the government budget.”
Former US citizens, offspring could hit inheritance snafu
Americans who have given up their citizenship but whose children have not could face high inheritance taxes for the offspring or others with US ties to whom they want to leave their assets. A study by a US law firm notes that in September “the IRS issued proposed regulations to section 2801 of the Internal Revenue Code that would introduce a steep tax for US citizens who receive property from certain persons who renounced their US citizenship and are considered ‘covered expatriates’.”