Dozens of masked extremists have clashed with riot police in Zurich, Switzerland, one of Europe’s wealthiest cities.

Police fired rubber bullets, tear gas and water cannon to disperse some 200 people who caused hundreds of thousands of euros worth of damage that police said was claimed by left-wing radicals.

Zurich is a major financial hub hosting several banking giants.

Cars, trees and bins were set alight in the upscale and normally peaceful city.

The violence erupted during a left-wing protest in Zurich’s upscale Stadtkreis 4 neighbourhood.

“We haven’t had riots like this for ten years, such willingness to use violence,” said Marco Cortesi, Zurich city police spokesperson.

“For example, they threw a burning torch into a police car. They destroyed a restaurant where people were having dinner.”

Footage showing demonstrators carrying a banner “Reclaim the streets” has been circulated on the web.

Police have arrested two Swiss, one Briton and a Liechtensteiner on suspicion of taking part in the unrest.