Modern

The Swiss have carefully guarded their neutrality in the 20th century. Their only WWI involvement lay in the organising of Red Cross units. In WWII, however, Switzerland played a more insidious role as an amenable money launderer for Nazi Germany. Switzerland's quiet anti-Semitism included shutting its borders to Jewish refugees and forcibly repatriating many of those who escaped Nazi-occupied Europe, in full knowledge of the fate which awaited them. While the rest of Europe underwent the painful process of repairing the ravages of war, Switzerland was able to expand from an already powerful commercial, financial and industrial base. Zürich developed as an international banking and insurance centre, and many international bodies, such as the World Health Organisation, based their headquarters in Geneva.
Afraid that its neutrality would be compromised, Switzerland declined to become a member of the United Nations (though it currently has 'observer' status) or NATO. It did, however, join EFTA (the European Free Trade Association). In the face of other EFTA nations applying for EU (European Union) membership, Switzerland finally made its own application in 1992.