Swiss Franc: "It’s a nightmare for everybody"

Discussion in 'Wall St. News' started by ASusilovic, Mar 30, 2011.

  1. March 30 (Bloomberg) -- Thierry Stern, chairman of Swiss watchmaker Patek Philippe SA, says his home nation may be better off adopting the euro as the franc’s appreciation hurts exports.

    “It’s a nightmare for everybody,” Stern said during a March 24 interview in Basel. “We have to adapt. Something will come. I don’t know when, but one day it will happen.”

    Swiss exports are lagging behind German goods sold abroad as companies from watchmaker Swatch Group AG to chemicals supplier Lonza Group AG struggle with the franc’s ascent against the euro and dollar. While both nations benefit from global demand for their products, the euro’s weakness has helped bolster sales and economic growth in Germany.

    http://noir.bloomberg.com/apps/news?pid=20602081&sid=aaP4r64mNElc

    Hurting the economy? Ay, ay, ay... :cool:
     
  2. Well it does give the Swiss citizen and swiss companies more purchasing power overseas. It is not all bad for them.
     
  3. Tsing Tao

    Tsing Tao

    oh yeah, well done. go on the euro. that'll do wonders for the swiss. just make sure you bring a check for your share of the bailout. make it payable to "mutti and axel".
     
  4. Which is a great thing if you have a trade deficit, not so much when you're running a surplus.