In this episode of The McKay Interview, host Michael McKay sits down with Frédéric Lelièvre, CEO and Editor-in-Chief of L’Agefi, the leading financial newspaper in French-speaking Switzerland. Speaking from Lausanne, they explore the evolving landscape of Swiss banking — from overregulation to global competitiveness, from Credit Suisse's collapse to Donald Trump’s tariffs.

Drawing on Frédéric’s decades of financial journalism, the conversation tackles key issues including:

• The fall of Credit Suisse: mismanagement, weak oversight, and missed signals

• Can we still trust Swiss banks — or is overregulation part of the problem?

• Basel III: what it means, why it matters, and whether Switzerland is too compliant

• The Swiss National Bank's performance: monetary stability vs. crisis response

• Neutrality and sanctions: how the Ukraine war shook Switzerland’s financial identity

• The risks of deglobalization and Trump-era tariffs for small, export-driven economies

• The future of Switzerland as a global wealth management hub: what’s at stake?

This thoughtful and richly detailed interview is essential listening for anyone interested in Swiss finance, global economics, and how national banking systems are navigating a new era of uncertainty and geopolitical tension.