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

A

ASusilovic

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:
 
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".
 
Quote from 1prometheus:

Swiss citizen and swiss companies more purchasing power overseas
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Which is a great thing if you have a trade deficit, not so much when you're running a surplus.
 
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