Question: How did the main subject of State of the Union address rank Switzerland's economy?

full_context: Document 1: European Union law: The second main legislative body is the Council, which is composed of different ministers of the member states. The heads of government of member states also convene a "European Council" (a distinct body) that the TEU article 15 defines as providing the 'necessary impetus for its development and shall define the general political directions and priorities'. It meets each six months and its President (currently former Poland Prime Minister Donald Tusk) is meant to 'drive forward its work', but it does not itself 'legislative functions'. The Council does this: in effect this is the governments of the member states, but there will be a different minister at each meeting, depending on the topic discussed (e.g. for environmental issues, the member states' environment ministers attend and vote; for foreign affairs, the foreign ministers, etc.). The minister must have the authority to represent and bin the member states in decisions. When voting takes place it is weighted inversely to member state size, so smaller member states are not dominated by larger member states. In total there are 352 votes, but for most acts there must be a qualified majority vote, if not consensus. TEU article 16(4) and TFEU article 238(3) define this to mean at least 55 per cent of the Council members (not votes) representing 65 per cent of the population of the EU: currently this means around 74 per cent, or 260 of the 352 votes. This is critical during the legislative process.
Document 2: Switzerland: Switzerland has an overwhelmingly private sector economy and low tax rates by Western World standards; overall taxation is one of the smallest of developed countries. Switzerland is a relatively easy place to do business, currently ranking 20th of 189 countries in the Ease of Doing Business Index. The slow growth Switzerland experienced in the 1990s and the early 2000s has brought greater support for economic reforms and harmonization with the European Union. According to Credit Suisse, only about 37% of residents own their own homes, one of the lowest rates of home ownership in Europe. Housing and food price levels were 171% and 145% of the EU-25 index in 2007, compared to 113% and 104% in Germany.
Document 3: State of the Union: The State of the Union address is a speech presented by the President of the United States to a joint session of the United States Congress, except in the first year of a new president's term. The address not only reports on the condition of the nation but also allows the President to outline his legislative agenda (for which he needs the cooperation of Congress) and national priorities. The address fulfills rules in Article II, Section 3 of the U.S. Constitution, requiring the President to periodically give Congress information on the ``state of the union ''and recommend any measures that he believes are necessary and expedient. During most of the country's first century, the President primarily only submitted a written report to Congress. With the advent of radio and television, the address is now broadcast live across the country on most networks.
Document 4: State of the Union: The State of the Union Address is an annual message presented by the President of the United States to a joint session of the United States Congress, except in the first year of a new president's term. The message includes a budget message and an economic report of the nation, and also allows the President to outline their legislative agenda (for which the cooperation of Congress is needed) and national priorities.
Document 5: 51st state: Several days after the referendum, the Resident Commissioner Pedro Pierluisi, Governor Luis Fortuño, and Governor-elect Alejandro García Padilla wrote separate letters to the President of the United States Barack Obama addressing the results of the voting. Pierluisi urged Obama to begin legislation in favor of the statehood of Puerto Rico, in light of its win in the referendum. Fortuño urged him to move the process forward. García Padilla asked him to reject the results because of their ambiguity. The White House stance related to the November 2012 plebiscite was that the results were clear, the people of Puerto Rico want the issue of status resolved, and a majority chose statehood in the second question. Former White House director of Hispanic media stated, "Now it is time for Congress to act and the administration will work with them on that effort, so that the people of Puerto Rico can determine their own future."
Document 6: European Union law: To make new legislation, TFEU article 294 defines the "ordinary legislative procedure" that applies for most EU acts. The essence is there are three readings, starting with a Commission proposal, where the Parliament must vote by a majority of all MEPs (not just those present) to block or suggest changes, and the Council must vote by qualified majority to approve changes, but by unanimity to block Commission amendment. Where the different institutions cannot agree at any stage, a "Conciliation Committee" is convened, representing MEPs, ministers and the Commission to try and get agreement on a joint text: if this works, it will be sent back to the Parliament and Council to approve by absolute and qualified majority. This means, legislation can be blocked by a majority in Parliament, a minority in the Council, and a majority in the Commission: it is harder to change EU law than stay the same. A different procedure exists for budgets. For "enhanced cooperation" among a sub-set of at least member states, authorisation must be given by the Council. Member state governments should be informed by the Commission at the outset before any proposals start the legislative procedure. The EU as a whole can only act within its power set out in the Treaties. TEU articles 4 and 5 state that powers remain with the member states unless they have been conferred, although there is a debate about the Kompetenz-Kompetenz question: who ultimately has the "competence" to define the EU's "competence". Many member state courts believe they decide, other member state Parliaments believe they decide, while within the EU, the Court of Justice believes it has the final say.
Document 7: Switzerland: Switzerland is one of the richest and wealthiest countries in the world. Switzerland ranks top or close to the top in several metrics of national performance, including government transparency, civil liberties, quality of life, economic competitiveness, and human development. It has the highest nominal wealth (financial and non-financial assets) per adult in the world according to Credit Suisse and the eighth-highest per capita gross domestic product on the IMF list. Zürich and Geneva have each been ranked among the top cities with the highest quality of life in the world, with the former ranked 2nd globally, according to Mercer.
Document 8: President of the European Council: The President of the European Council is the person presiding over and driving forward the work of the European Council, as well as a principal representative of the European Union (EU) on the world stage. This institution comprises the college of heads of state or government of EU member states as well as the President of the European Commission, and provides political direction to the European Union (EU).
Document 9: Switzerland: Apart from the United Nations headquarters, the Swiss Confederation is host to many UN agencies, like the World Health Organization (WHO), the International Labour Organization (ILO), the International Telecommunication Union (ITU), the United Nations High Commissioner for Refugees (UNHCR) and about 200 other international organisations, including the World Trade Organization and the World Intellectual Property Organization. The annual meetings of the World Economic Forum in Davos bring together top international business and political leaders from Switzerland and foreign countries to discuss important issues facing the world, including health and the environment. Additionally the headquarters of the Bank for International Settlements (BIS) are located in Basel since 1930.
Document 10: Netherlands: The Netherlands has a developed economy and has been playing a special role in the European economy for many centuries. Since the 16th century, shipping, fishing, agriculture, trade, and banking have been leading sectors of the Dutch economy. The Netherlands has a high level of economic freedom. The Netherlands is one of the top countries in the Global Enabling Trade Report (2nd in 2016), and was ranked the fifth most competitive economy in the world by the Swiss International Institute for Management Development in 2017. In addition, the country was ranked the second most innovative nation in the world in the 2018 Global Innovation Index.
Document 11: Switzerland: Switzerland has one of the best environmental records among nations in the developed world; it was one of the countries to sign the Kyoto Protocol in 1998 and ratified it in 2003. With Mexico and the Republic of Korea it forms the Environmental Integrity Group (EIG). The country is heavily active in recycling and anti-littering regulations and is one of the top recyclers in the world, with 66% to 96% of recyclable materials being recycled, depending on the area of the country. The 2014 Global Green Economy Index ranked Switzerland among the top 10 green economies in the world.
Document 12: State of the Union: What began as a communication between president and Congress has become a communication between the president and the people of the United States. Since the advent of radio, and then television, the speech has been broadcast live on most networks, preempting scheduled programming. To reach the largest audience, the speech, once given during the day, is now typically given in the evening, after 9pm ET (UTC - 5).
Document 13: Economy of Switzerland: The economy of Switzerland is one of the world's most stable economies. The service sector has also come to play a significant economic role, particularly the Swiss banking industry and tourism. The economy of Switzerland ranks first in the world in the 2015 Global Innovation Index and the 2017 Global Competitiveness Report. According to United Nations data for 2016, Switzerland is the third richest landlocked country in the world after Liechtenstein and Luxembourg, and together with Norway the only two countries in the world with a GDP per capita above US $70,000 that are neither island nations nor ministates.
Document 14: Switzerland: The World Economic Forum's Global Competitiveness Report currently ranks Switzerland's economy as the most competitive in the world, while ranked by the European Union as Europe's most innovative country. For much of the 20th century, Switzerland was the wealthiest country in Europe by a considerable margin (by GDP – per capita). In 2007 the gross median household income in Switzerland was an estimated 137,094 USD at Purchasing power parity while the median income was 95,824 USD. Switzerland also has one of the world's largest account balances as a percentage of GDP.
Document 15: State of the Union (European Union): The Framework Agreement thus also foresees that the President of the European Commission sends a letter of intent to the President of the European Parliament and the Presidency of the Council of the European Union that sets out in detail the actions the European Commission intends to take by means of legislation and other initiatives until the end of the following year. The address is then followed by a general debate on political situation of the Union, the so-called State of the Union debate.
ground_truth: Europe's most innovative country
sub_queries: State of the Union address >> main subject Answer: European Union
How did European Union rank Switzerland's economy? Answer: Europe's most innovative country