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View Full Version : Swiss Bank just de-pegged from the Euro



humpty
01-15-2015, 12:07 PM
http://www.reuters.com/article/2015/01/15/us-swiss-snb-cap-idUSKBN0KO0XK20150115

The SNB does an about-turn and pulls out after knifing a boat load of safe-haven hoarders about 3 years ago.

AnotherDave
01-15-2015, 05:56 PM
http://www.reuters.com/article/2015/01/15/us-swiss-snb-cap-idUSKBN0KO0XK20150115

The SNB does an about-turn and pulls out after knifing a boat load of safe-haven hoarders about 3 years ago.

Hoarders, riiiight!

People putting their wealth in the wrong places, if you ask me!

littlemoron
01-17-2015, 05:36 PM
Some say the next currency shock is chinese yuan.

redraspberry
01-21-2015, 12:56 PM
Daimler cutting Mercedes and Smart prices by 18% in Switzerlandhttp://www.autoblog.com/2015/01/21/mercedes-smart-price-cut-18-percent-switzerland-report/


Automakers including Daimler (http://www.autoblog.com/mercedes-benz/) and PSA (http://www.autoblog.com/category/peugeot/) are now offering substantial discounts in Switzerland (http://www.autoblog.com/tag/switzerland/) to make it more affordable for Swiss customers to buy their cars, according to the latest from Bloomberg (http://www.bloomberg.com/news/2015-01-20/daimler-cuts-swiss-mercedes-smart-car-prices-18-on-snb.html).

The move, instituted by two of Europe's largest automakers, comes in response to the surprise decision last week by the Swiss National Bank to suddenly abandon its longstanding policy of capping trading of the Swiss Franc to 1.20 francs per euro. The policy has sent the value of the franc soaring, making imports into Switzerland less expensive while increasing the value of its exports.

The discounts being offered by the automakers could therefore be viewed more as price adjustments to better match the changing currency value rather than an actual incentive. But whichever way you look at it, a new Mercedes or Smart (http://www.autoblog.com/smart/) will now cost Swiss buyers 18 percent less than the list price, while Peugeot and CitroŽn (http://www.autoblog.com/category/citroen/) dealers in the Confoederatio Helvetica are chopping 1,000 francs ($1,144) off the price of a new passenger car or 1,500 francs ($1,716) for a new commercial vehicle.