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Swiss Central Bank Weighs Pegging Franc to the Euro

Posted By aaron On August 12, 2011 @ 4:06 pm In Global Crisis,Old Infowars Posts Style | Comments Disabled

LIZ ALDERMAN
New York Times
August 12, 2011

PARIS — Switzerland’s central bank signaled Thursday it was prepared to consider a once-unthinkable step: pegging the nation’s “massively overvalued” currency to the euro, at least temporarily.

Such a move would be a response to the global financial turmoil that has lifted the value of the Swiss franc, which investors consider a safe haven, to levels that are menacing Switzerland’s economy.

“So long as they are compatible with price stability long term, temporary measures that influence the exchange rate are within our mandate,” Thomas Jordan, the vice chairman of the Swiss National Bank, said in an interview published Thursday in Tages-Anzeiger, a Swiss newspaper.

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