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Earthquakes pose greatest natural risk to Switzerland

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Geneva: The Swiss Seismological Service (SED) at ETH Zurich indicated on Tuesday that though moderate earthquakes occur on a regular basis in the country, “a strong or even catastrophic earthquake could also occur at anytime, anywhere in Switzerland” .The fruit of 10 years of research, SED’s updated seismic hazard model, which replaces its outdated 2004 predecessor, will enhance the organisation’s predictor capabilities as well as its ability to assess hazard levels across the confederation, where some 500 earthquakes are recorded each year, Xinhua reported.

According to improved predictive models, new and more accurate data, and reviewed estimates based on historical sources, canton Valais remains the area with the highest hazard level in the country, followed by Basel, Graubunden, the St. Gallen Rhine Valley, and central Switzerland.

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SED explained that theoretically however, a strong earthquake could occur in any of Switzerland’s twenty-six cantons and at any given time. The most recent moderate earthquake to hit Switzerland dates back to three years ago, when a tremor with a magnitude of 4.2 on the Richter scale struck at 30 km below the earth’s surface in the vicinity of Zug.

(IANS)

 

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Harsh Penal Proceedings For Illegal Swiss Bank Deposit Holders: Arun Jaitely

A news item has appeared today indicating an increase of money by ‘Indians’ in the Swiss banking system

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Harsh Penal Proceedings For Illegal Swiss Bank Deposit Holders: Arun Jaitely
Harsh Penal Proceedings For Illegal Swiss Bank Deposit Holders: Arun Jaitely. flickr

Union Minister Arun Jaitley today warned that Indians having illegal deposits in Swiss banks would face harsh penal proceedings under the black money law after Switzerland starts real time sharing of details of accounts from January onwards. Latest data from the Swiss National Bank showed that money parked by Indians in Swiss banks rose over 50 per cent to CHF 1.01 billion (Rs 7,000 crore) in 2017, reversing a three-year downward trend amid India’s clampdown on suspected black money stashed by its citizens overseas.

“A news item has appeared today indicating an increase of money by ‘Indians’ in the Swiss banking system. This has led to misinformed reaction in certain circles raising a query whether the government’s anti-black money steps have yielded results,” Jaitley said in a blog. Noting that Switzerland in financial disclosures was always a reluctant state, Jaitley said the Alpine nation has amended its domestic laws involving all disclosures and entered into a treaty even with India and real time flow of information with regard to Indians would be made. “The flow of information is starting in January, 2019. Any illegal depositor knows that it is a matter of months before his name becomes public and he will be subjected to the harsh penal provisions of the black money law in India,” said the senior BJP leader and an eminent lawyer.

Jaitley said the Alpine nation has amended its domestic laws
Jaitley said the Alpine nation has amended its domestic laws. Flickr

Also read: Under Arun Jaitley corruption grew manifold in DDCA: Bishan Singh Bedi

Further, Jaitley said those who participate in a public discourse must understand these basic facts before expressing an opinion which may be ill-informed. “To assume that all the deposits are per se tax evaded money or that Switzerland in the matter of illegal deposits is what it was decades ago, is to start on a shaky presumption,” he added. (IANS)