Bloomberg News

Swiss Industry Group Criticizes Franc-Euro Ceiling, NZZ Reports

June 10, 2012

Management of the Swiss industry association SGV is urging the Swiss central bank to give up the franc ceiling of 1.20 versus the euro, NZZ am Sonntag reported, citing the association’s internal paper from this month.

The currency peg is “not lastingly positive for the economy,” the paper, prepared by the head of economic policy at the association, said according to NZZ am Sonntag. Starting an exit strategy early is important for the economy, the newspaper said, citing the paper.

To contact the reporter on this story: Elena Logutenkova in Zurich at

To contact the editor responsible for this story: Frank Connelly at

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