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Switzerland fears euro fallout – because its currency is too strong

From independent.co.uk

The promenades of Geneva and Zurich may seem a world away from the protests and turmoil plaguing the streets of Athens. But, with the European sovereign-debt crisis going rapidly from bad to worse, concerns are growing about the economic impact on Switzerland if the Greeks ditch the euro. The biggest fear is over the ever- reliable Swiss franc. Last year, the mayhem in the 17-member euro area drove up the value of the Swiss currency, threatening the country's economy. Increasing pressure on the franc adversely affected Swiss exports and led to a marked decline in tourism. Central bankers in Berne were eventually ... (full story)

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