Textile industry suffers from strong franc
The Swiss Textile Federation has repeated its call for a minimum exchange rate of 1.30 against the euro and much stronger action by the Swiss National Bank.
The call came as the industry announced exports for 2011 were down 5.2 per cent down on the previous year at almost three billion francs and warned that prospects were not looking good.
The Federation said the weakening of the world economy and a seriously overvalued Swiss franc are causing problems for the export-dependent sector.
http://worldradio.ch/wrs/news/wrsnew...nc.shtml?30262
The Swiss Textile Federation has repeated its call for a minimum exchange rate of 1.30 against the euro and much stronger action by the Swiss National Bank.
The call came as the industry announced exports for 2011 were down 5.2 per cent down on the previous year at almost three billion francs and warned that prospects were not looking good.
The Federation said the weakening of the world economy and a seriously overvalued Swiss franc are causing problems for the export-dependent sector.
http://worldradio.ch/wrs/news/wrsnew...nc.shtml?30262