Gnomes of Zurich
What it is:
Gnomes of Zurich is a slang, and often derogatory,referring to Swiss bankers.
How it works (Example):
A gnome is a mythical greedy creature that lives underground and guards. Swiss banks are known for their secrecy, hence the . Zurich is the largest city in Switzerland.
Why it Matters:
The British Labour party began using thein 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 regained its popularity.