CONTINUEThis site uses cookies. By continuing to browse this site you are agreeing to our use of cookies. Find out more.
  1. Front Page
  2. News By Topic
  3. SNB Chief Says Euro Has Increased Pressure On Swiss Economy

SNB Chief Says Euro Has Increased Pressure On Swiss Economy

by Ulrika Lomas, Tax-News.com, London

27 June 2002


The Head of the Swiss National Bank (SNB) has warned that the introduction of the euro in January of this year has put pressure on the Swiss economy.

Speaking at an economic forum in Germany this week, Jean-Pierre Roth stressed that the Alpine jurisdiction will need to become more competitive in the future if it is to keep pace with its Eurozone neighbours, and suggested that some sectors of the Swiss economy will need major restructuring.

Reporting on the forum on Wednesday, the Swissinfo news service revealed that the SNB chief also told those attending that Switzerland's export industry is being put under pressure by the current strength of the Swiss Franc, which many investors are viewing as a 'safe haven' currency.

'Nobody would be sad if the franc would lose some of this nimbus,' the banking chief was quoted as observing by Swissinfo yesterday.


To see today's news, click here.

 















Tax-News Reviews

Cyprus Review

A review and forecast of Cyprus's international business, legal and investment climate.

Visit Cyprus Review »

Malta Review

A review and forecast of Malta's international business, legal and investment climate.

Visit Malta Review »

Jersey Review

A review and forecast of Jersey's international business, legal and investment climate.

Visit Jersey Review »

Budget Review

A review of the latest budget news and government financial statements from around the world.

Visit Budget Review »



Stay Updated

Please enter your email address to join the Tax-News.com mailing list. View previous newsletters.

By subscribing to our newsletter service, you agree to our Terms and Conditions and Privacy Policy.


To manage your mailing list preferences, please click here »