Swiss National Bank Scraps Hard Franc Ceiling, Replaces With Soft Ceiling Instead Local Press Reports
February 01, 2015 at 13:52 PM EST
The aftermath of this historic surge in the Franc will lead to an all out Swiss recession. Not only did its export industry just get crushed, but tourism into Switzerland will be drastically reduced as a result of what to foreigners appears as a 20% drop in their purchasing power.