Switzerland’s central bank signaled Thursday it was prepared to consider temporarily pegging the nation’s “massively overvalued” currency to the euro.
The move would be in response to the global financial crisis that has increased the value of the Swiss franc, which investors consider a safe haven, to levels that are endangering Switzerland’s economy.
A peg would require changing the Swiss constitution and it would mean the Swiss central bank would risk relinquishing some of its independence to the European Central Bank.
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