After the release of the franc by the Swiss central bank can no euro bills be temporarily pulled in many ATMs in the country. The banks know not what course they should be calculated after the franc was appreciating temporarily by 30 percent.
+++ Switzerland Francs are free + ++
+++ Dramatic euro exchange rate fall +++
+++ +++ Swiss entrepreneur very concerned
+++ FOCUS Online reporter Julian Rohrer reported from Konstanz +++
09.28 Clock: The leading US central banker James Bullard has expressed surprise at the unexpected cancellation of the minimum euro exchange rate by the Swiss National Bank (SNB). To his knowledge, the Swiss central bank had the Federal Reserve (Fed) not informed in advance about the unexpected step, the St. Louis Fed President said on Friday.
The’ll franc’s appreciation but no direct impact on have the US economy. “The Swiss economy is simply too small to have an impact” , added Bullard
Saturday, January 17, 08.35 clock. Swiss central bank has defended its radical change in the fight against a strong franc. He was aware though been aware that the surprising departure from the minimum rate to the euro, the Swiss Economic problems for junction and the financial markets would need some time to recover from the shock, said SNB Vice President Thomas Jordan of “Neue Zürcher Zeitung” and the journal “Le Temps” on Friday. The Step is but have been necessary given the continued fall in the euro, in the long term to maintain control over monetary policy .
For the international development had drifted apart. Spend more and more money to maintain the minimum exchange rate of CHF 1.20 would not have been sustained and the credibility of the central bank would have risked Jordan said. Since it would be better to take criticism. Especially since it was clear from the outset that the minimum price was merely a temporary exception. The fierce market reactions described Jordan as covered
16.33 clock. The Swiss Federal Railways (SBB) is preparing for the planned shopping trips to many Swiss. According to a report of “20min.ch” sets the SBB on Saturday even special trains to cope with the expected rush
15:36 clock. The People’s Bank in Konstanz noted in their daily business change by the strong Swiss franc. “Quite surprisingly, the SNB has abandoned its course support of the Swiss franc. Many Swiss customers use these additional 20 to 25 percent Course advantage for consumption on the German side or Currency exchange in Euros , “says Roger Winter, Director the People’s Bank in Constance. The exchange volume of CHF in EUR had tripled within hours. The queue to the change machine is longer than average.
retailers, restaurateurs and artisans who make constant up to 30 percent of their revenues with Swiss customers, speak of a “unexpectedly positive special economic” . “Our customers with a job in Switzerland or pensioners who receive a pension in Swiss francs, look forward to a twenty percent increase in salaries and pensions,” says Winter. “Credit customers with CHF loans, however, have a higher loan amount in the same percentage amount. Here the strong Swiss franc is rather negative connotation “
15:28 clock. If the Swiss else get nowhere euro: at least the parking ticket machine a shopping center in Konstanz changes francs in EUR to. The only question is: at what price
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