What are the Gnomes of Zurich?

Gnomes of Zurich is a slang, and often derogatory, term referring to Swiss bankers.

How Do the Gnomes of Zurich Work?

A gnome is a mythical greedy creature that lives underground and guards money. Swiss banks are known for their secrecy, hence the term. Zurich is the largest city in Switzerland.

Why Do the Gnomes of Zurich Matter?

The British Labour party began using the term in the 1960s after the value of the British pound was declining; some politicians felt that speculators in Swiss banks were causing the problem. When the global financial crisis occurred in 2010, the term regained its popularity.

Ask an Expert about Gnomes of Zurich

All of our content is verified for accuracy by Paul Tracy and our team of certified financial experts. We pride ourselves on quality, research, and transparency, and we value your feedback. Below you'll find answers to some of the most common reader questions about Gnomes of Zurich.

Be the first to ask a question

If you have a question about Gnomes of Zurich, then please ask Paul.

Ask a question
Paul Tracy
Paul Tracy

Paul has been a respected figure in the financial markets for more than two decades. Prior to starting InvestingAnswers, Paul founded and managed one of the most influential investment research firms in America, with more than 3 million monthly readers.