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Jordan: The euro and Swiss monetary policy
When the euro was created almost two decades ago, there was considerable uncertainty about how the currency would impact Switzerland. My predecessors on the Governing Board of the Swiss National Bank regularly commented on subsequent euro developments in speeches and frequently voiced their expectations and concerns. Things ran fairly smoothly in the first few years; but the financial and debt crisis rocked the currency union and put the euro under pressure. The SNB has responded with a flexible and pragmatic monetary policy. As the difficulties have not yet been overcome , it is too early to draw definite ... (full story)