Commentary & Content Curation Since April 2005
(FKA China Confidential)
Friday, October 12, 2012
Is Switzerland Manipulating its Currency?
Daniel Gros notes that "Switzerland has pegged its currency to the euro at a level that helps it sustain a 12% current-account surplus and one of the lowest unemployment rates in Europe." He argues that "the Swiss peg involves currency manipulation that is, as far as Europe is concerned, the same order of magnitude as China’s intervention."