Tuesday, 6 September 2011
Swiss fix Franc vs Euro
This is a very poor decision by the SNB. They will now find depositors from all over Europe choosing the Swiss Franc. Marginally solvent European banks will also choose the Franc as a haven. We are now in a new stage of Currency Wars and uncooperative economic decision making. That is dangerous.
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On an popoular swiss papers website (20min.ch) a survey in the last hour found that 68% of people say they don't agree with the move.
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