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Showing posts from December, 2019

ETA Until No ETA?

In 2002 Switzerland became a full member of the United Nations.  It is perhaps surprising that it took six decades from the founding of the UN for Switzerland to join.  But Swiss adherence to political neutrality is now more than two centuries old, a doctrine which is no doubt difficult to follow amidst the coalition-building and lobbying that takes place in the UN.  The track record of avoiding international conflict for more than a century, though, is a testament to Swiss dedication to neutrality. Apparently, for some in the watch industry, avoidance of conflict ends at the border.  Also in 2002, Nicolas Hayek, the then-CEO of the Swatch Group, announced that his company would no longer supply mechanical movements to other manufacturers. Nicolas Hayek For years the Swatch subsidiary ETA  - Manufacture Horlogère Suisse had supplied its movements to a wide array of other watch brands.  From a business perspective this product line made little sense, Swatch was essentially enabli