Arab Today, arab today switzerland draws up eurozone collapse action plan
Last Updated : GMT 02:04:16
Arab Today, arab today
Arab Today, arab today

Switzerland draws up eurozone collapse action plan

Arab Today, arab today

Arab Today, arab today Switzerland draws up eurozone collapse action plan

Geneva - AFP

Switzerland does not foresee a break-up of the eurozone but is nonetheless drawing up an action plan in the event of its collapse, the country\'s central bank chief said on Sunday. Thomas Jordan, who became chairman of the Swiss National Bank (SNB) last month, told the SonntagsZeitung newspaper that a working group was discussing measures to combat any strengthening of the safe haven Swiss currency. The bank intervened in September to stem the rise of the Swiss franc which had soared as investors sought a secure place for their cash, hurting Swiss exports and the tourism industry. Jordan said the eurozone crisis had worsened in recent weeks and he foresees bumpy times ahead. \"The working group is focussing mainly on instruments to combat a strengthening of the franc,\" said Jordan. \"We have to be prepared for the scenario of a currency union collapse, although I don\'t think that will happen. \"One measure would be capital controls, that\'s to say controls directly influencing the flood of capital into Switzerland,\" he said, declining to give further details. Jordan said the bank would defend its exchange rate floor against the euro of 1.20 francs. It closed at 1.2014 on Friday. The SNB has consistently said it will enforce the minimum rate and is prepared to buy unlimited quantities of foreign currencies if necessary. The cap was introduced after the franc posted a sharp gain in value last year, going from 1.23 to the euro at the beginning of July to less than 1.05 a month later. \"Maintaining the minimum price is the monetary policy that we will continue with determination for the foreseeable future,\" Jordan said. The euro had extended its slide against the dollar Friday, dipping below $1.25, under pressure from uncertainty over the future of Greece in the eurozone, and the risk of contagion from its debt crisis. Jordan succeeded former bank head Philipp Hildebrand who quit in January over a controversial dollar trade by his wife.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today switzerland draws up eurozone collapse action plan Arab Today, arab today switzerland draws up eurozone collapse action plan

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today switzerland draws up eurozone collapse action plan Arab Today, arab today switzerland draws up eurozone collapse action plan

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today US travel restrictions are still 'Muslim ban'

GMT 00:54 2017 Tuesday ,26 September

US travel restrictions are still 'Muslim ban'
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel builds settlements 'at high rate'

GMT 01:04 2017 Tuesday ,26 September

Israel builds settlements 'at high rate'
Arab Today, arab today North Korea 'more opaque'

GMT 10:50 2017 Sunday ,24 September

North Korea 'more opaque'
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Personality study finds fish have hidden depths

GMT 00:43 2017 Tuesday ,26 September

Personality study finds fish have hidden depths
Arab Today, arab today 'Lady Beast' fights for girl gamers

GMT 10:27 2017 Sunday ,24 September

'Lady Beast' fights for girl gamers
Arab Today, arab today Conditions growing dire    

GMT 09:22 2017 Monday ,25 September

Conditions growing dire    
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Chevrolet's first 9-speed auto debuts

GMT 18:58 2017 Monday ,25 September

Chevrolet's first 9-speed auto debuts
Arab Today, arab today Third generation adds more power

GMT 13:40 2017 Sunday ,24 September

Third generation adds more power
Arab Today, arab today Lebleba is preoccupied in filming 'Back Street'

GMT 08:56 2017 Thursday ,21 September

Lebleba is preoccupied in filming 'Back Street'
Arab Today, arab today Psychologists help Mexico deal

GMT 05:05 2017 Sunday ,24 September

Psychologists help Mexico deal

GMT 08:59 2017 Wednesday ,20 September

Youssra prepares for launching her program

GMT 10:16 2017 Friday ,22 September

All eyes on May as she prepares

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 20:10 2017 Saturday ,23 September

Big Western brands polluting oceans

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 12:02 2017 Sunday ,24 September

Harry visits mental health hospital

GMT 12:09 2017 Sunday ,24 September

Taxi! Transport gets an overhaul

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:46 2017 Thursday ,21 September

Google likely to buy stake in Taiwan smartphone maker HTC

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday