Being small may well be the best way of avoiding the effects of globalization. Globilization is not only transferring power up from the state level to a more globalized level but also down to the local level. This works to the advantage of small states and as a very decentralized state this is particularly likely to benefit Switzerland. It is notable that most the world’s wealthiest states in per capita terms are small states despite globalization supposedly meaning that countries need to create immense markets to survive. [1] In practice small states are able to rapidly change to the changing economic environment. Iceland itself is a good example, despite the crash it experienced it is recovering and is turning against the idea of EU membership as its finance minister Steingrimur Sigfusson says "You are quicker turning a small boat around than a big ship. And that is, I think, what is being proven: that the small, vibrant Icelandic economy, including having our own currency, makes adapting quicker." [2]  [1] Alesina, Alberto, ‘The Size of Countries: Does it matter?’, 2003, p.308  [2] Henley, Paul, ‘Iceland has doubts about the euro as economy recovers’, 2011