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Swiss government has emergency plan to stabilize exchange rate
The Swiss government has a confidential emergency plan to stabilize the Swiss franc exchange rate in case the euro zone crisis worsens and the Swiss National Bank alone is no longer able to guarantee the rate, Swiss parliament's finance delegation said in a report. The SNB capped the soaring Swiss franc at 1.20 francs per euro in September 2011 to fend off deflation and a recession and has repeated ever since that it was ready to buy foreign currency in unlimited quantity for this purpose. "The finance minister explained that the government has drawn up measures to be taken in case monetary policy alone should not ... (full story)
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