Gnomes of Zurich

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Gnomes of Zurich

A pejorative term for bankers in Switzerland. They acquired this nickname because of their reputation for discrete and indeed secretive policies. Harold Wilson coined the term in 1956 when he was the British shadow chancellor of the exchequer and believed that Swiss bank speculators were artificially weakening the pound.
References in periodicals archive ?
Blatter's bile proves that the bigoted gnome of Zurich is as small-minded as it's possible to be.