What Is Switzerland`s Agreement With The Eu

Switzerland is a member of the European Free Trade Association (EFTA) and participated in the negotiations on the Agreement on the European Economic Area (EEA) with the European Union. It signed the agreement on 2 May 1992 and applied for EU membership on 20 May 1992. However, following a Swiss referendum on 6 December 1992, the Swiss government rejected EEA membership by 50.3% to 49.7%[3] and decided to suspend negotiations on EU membership until further notice. These have not resumed and, in 2016, Switzerland officially withdrew its application for EU membership. [4] [5] The currency of Switzerland is the Swiss franc. Switzerland (together with Liechtenstein) is in an unusual situation of being surrounded by countries that use the euro. As a result, the euro is de facto accepted in many places, especially in border and tourist regions. There is particular criticism of the relaxation of wage protection, public subsidies and ambiguities regarding the EU GUARANTEE Directive, which creates additional rights for EU citizens in the area of social assistance and family reunification. Another highly controversial issue is the dispute settlement procedure, which aims to settle disputes between EU and Swiss law, and the dynamic adoption of the law, which obliges Switzerland to continuously adopt the new EU law. Contrary to what opponents of the agreement claim, however, this is not an automatic adoption of EU law, since Switzerland can decide separately on any adoption of EU law in the mechanism provided for legal development and constitutional rights are always respected – the referendum option is therefore completely preserved. .