Bloomberg News

SNB Should Keep Franc Limit, Industry Group Tells Tages-Anzeiger

June 04, 2012

If the Swiss central bank abandoned its limit of 1.20 francs per euro and allowed the currency to appreciate, the consequences would be catastrophic for the country’s exporters, Hans Hess, head of industry group Swissmem, told Tages-Anzeiger newspaper.

Many small and medium-sized firms and their suppliers wouldn’t survive such a shock, and large companies would transfer jobs abroad, Hess said according to the newspaper.

To contact the editor responsible for this story: Klaus Wille at kwille@bloomberg.net


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