The latest exit polls show the radical leftist party Syriza in the lead with over 35% of the votes. Syriza has talked of halting austerity and renegotiating the country’s debt which stands at 175% of GDP. In addition, the right-wing Golden Dawn party could possibly take third place. Some market commentators have said that if Syriza […]
Big losses for the Swiss National Bank
After the recent increase in value of the Swiss franc, foreign currencies held by the Swiss National Bank (SNB) will now be worth less in Swiss franc terms. In the case of Euros around 17% less than before. This decline in value will drive a loss. It is not possible to calculate the actual figure, however […]
Here’s something 250% more expensive in Switzerland
For those British expats in Switzerland that haven’t been able to make the transition from Weetabix to Bircher muesli, buying your favourite brand of cereal across the boarder just got even cheaper after the Swiss National Bank scrapped the CHF-EUR exchange rate cap. Some price differences just leave you scratching your head. This is one […]
Swiss National Bank scraps exchange rate cap
In a surprise move the Swiss National Bank shocked the world today when it announced that it would stop managing the Swiss franc to an exchange rate of CHF 1.20 to 1.00 Euro. At the same time, it announced that it is lowering the interest rate on sight deposit account balances by 0.5 percentage points, to […]