Swiss loans – Machi Navi Mon, 21 Nov 2022 16:58:54 +0000 en-US hourly 1 Swiss loans – Machi Navi 32 32 Death of Karim Gazzetta: a Swiss footballer dies at 27 “after jumping from a building” Mon, 21 Nov 2022 15:46:35 +0000

Swiss football international Karim Gazzetta dies aged 27 “after jumping from a building”

  • Karim Gazzetta, former Swiss international, died in Bosnia and Herzegovina
  • A 27-year-old man was found outside his home in Mostar, 45 miles from Sarajevo, today
  • Gazzetta, who played for the Zrinjski team, committed suicide, according to local media
  • The athlete was one of Switzerland’s most promising young players, but his career had been plagued by injuries and he missed half of the current season.

A former Swiss international footballer who was once one of the country’s most promising young stars was found dead in Bosnia and Herzegovina today.

Karim Gazzetta, 27, was found dead outside his home in the city of Mostar, 45 miles south of the capital Sarajevo, early this morning.

Police are investigating but Bosnian media report that Gazzetta – who was playing for local team Zrinjski at the time – had committed suicide by jumping from the building.

Karim Gazzetta, 27 – once one of Switzerland’s most promising young footballers – was found dead in the city of Mostar, Bosnia and Herzegovina

An attacking midfielder, Gazzetta was once considered a young talent in Swiss football after being capped four times for the national under-20 team in 2015.

He came through the academy of Servette FC – one of the most successful teams in the country – and spent several spells on loan before joining Stade Lausanne-Ouchy.

He then went to Neuchâtel Xamax, a team relegated from the Swiss top flight in 2012 after bankruptcy but found their way back to the top division in 2018.

However, injuries began to take a toll on his career and he was sold to Zrinjski over the summer as he suffered from issues that kept him out of action.

Gazzetta recovered but only made two appearances before re-injuring himself.



Gazzetta was capped four times for the Swiss Under-20 team in 2015 but injuries plagued his later career and he only played two games in the first half of that season.

His last appearance was in a cup match on October 19.

A spokesperson for the Swiss Football League said: “The Swiss Football League mourns the loss of former U20 international Karim Gazzetta, who died tragically in Bosnia.

“Most recently, at the age of 27, he was under contract with Bosnian league leaders Zrinjski Mostar.

The SFL sends its deepest condolences to all the family and loved ones, in particular to his younger brother Luca, who made three Challenge League appearances for Servette FC in the 2017/18 season and is currently playing in the Promotion League for the Stade Nyonnais. ‘


Recession? Interest rate? What movers and shakers think will happen to the economy Fri, 18 Nov 2022 19:38:58 +0000

Will Australia experience a recession?

What will happen to interest rates?

I have answers, and a new favorite economic theory: “F*** it” money.

Recently, the banks have begun to reconnect with journalists, as they had not done in the past three years.

Eating meals together was largely suspended during the early years of the COVID pandemic. Now here we go: with a lot to catch up on.

Inside the Petrus restaurant in Hong Kong, where Alex Gillett and other Navy offices enjoyed a sumptuous dinner.(Wikimedia Commons)

Over the past few months, I have rubbed shoulders with top bank executives, influential fund managers and renowned economists. These conversations have not been recorded or attributed to any individuals.

But I’ve condensed the main things I learned below.

Rumors fly

Markets operate on two things: greed and fear.

Much of the fear is centered on global banking giant Credit Suisse. The Swiss company’s share price has halved this year after internal unrest and a series of scandals.

That’s a generous assessment. The bank suffered big losses, hired private detectives to spy on employees, laundered money for a criminal organization in Bulgaria, faced lawsuits and paid a fine of more than half a billion dollars for facilitating corrupt loans in Mozambique.

New chairman Axel Lehmann says he will reform the company after a “horrible” year, but his name underscores the problem.

The Credit Suisse logo, which are the words in white on a shiny black building wall.
The Swiss bank Credit Suisse is a global brand, whose reputation has been tarnished in recent years. (Walter Bieri/Keystone via AP)

The shock bankruptcy of independent US company Lehman Brothers helped blow up the US economy in 2008, leading to the Global Financial Crisis, or GFC.

It was a hammer blow with immense consequences: the key index of our stock market took 12 years to regain its pre-GFC level.

But Lehman Brothers had overpaid for its assets and used accounting tricks to make its books safer than they were. When the crisis brought down the curtain, other banks were also exposed.

No one I spoke to claimed to have insider knowledge of Credit Suisse.

But they insisted that the conditions of 2008 – when other global institutions had similar problems over overvalued assets – were simply not there.

They don’t see GFC Mark II. But they see problems.

Big, big.

Global issues

The challenges of the global economy are as vast as the world is vast.

In the UK, the Bank of England predicts a recession that will continue from the end of this year and through 2023. It would be the longest recession since the GFC.

In the United States they are more optimistic, but maybe that’s just the weather.

Their central bank, the Federal Reserve or “Fed”, tries to slow down inflation.

Jerome Powell stands on a podium behind a wall of American flags.
Federal Reserve Chairman Jerome Powell has changed the course of the US central bank after the pandemic emergency measures. (PA: Jacquelyn Martin)

But the way it does it – raising interest rates – has many other impacts. A Bloomberg Economics report indicates that a recession will hit within the next 12 months. Normally they give a percentage of the probability.

This figure is now 100%.

The bank’s figures agree with that view for both nations, although they disagree on depth or length.

And some of my conversations predate the September 23 announcement by (now former) British Prime Minister Liz Truss of an unfunded tax cut plan so savage it caused the value of a pound and cost her a job she had only had for a few months.

Recession in Australia?

What people I’ve talked to agree on is that our problems aren’t that bad.

Inflation is a problem, but unemployment is extremely low, which means that more people than everyone else have a salary that can help them get by.