Bloomberg News

Swiss Economy Minister Criticizes Franc Discussions, AWP Reports

June 13, 2012

Swiss Economy Minister Johann Schneider-Ammann criticized public discussions about the Swiss central bank’s franc ceiling of 1.20 versus the euro, AWP newswire reported, citing his remarks at Club Suisse de la Presse in Geneva yesterday.

The Swiss National Bank’s franc ceiling is “absolutely necessary” to defend the country’s economy, he said, according to AWP.

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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