The Swiss left the Euro, who is next? Germany?
The swiss have a strong currency!
And for most of that time Switzerland ran a current account surplus, a
balanced budget and suffered almost no unemployment, all despite the
fact that nobody knows the name of a single Swiss politician or central
banker (or perhaps because nobody knows a single Swiss politician or
central banker, since they have such limited power? And that all these
marvelous results come from that one simple fact: their lack of power).
The last time I looked, the Swiss population had the highest standard of
living in the world—another disastrous long term consequence of not
having properly trained economists of the true faith.
Charles Gave from the Great Gave Kal
Of course the swiss have almost no unemployment, always had a strong currency, they still have brands, Chocolate, banks, watches & Pharma (since the move to floating exchange rates in 1971, the Swiss franc has risen from CHF4.3 to the US dollar to CHF0.85 and appreciated from CHF10.5 to the British pound to CHF1.5). The swiss have balanced budgets, low taxes and as Mr Gave says no one ever knew a name of a Swiss Central bank or politician! In Europe we are always talking about Merkel, Draghi, etc….with very bad results. In a good managed country no one should know who are the politicians. They should not matter.
Amazingly the Swiss still have local farmers / producers selling their products in the streets of Geneva!
What is the scenario for the future?If the euro is becoming the lira I guess the German companies are going to be the biggest beneficiaries, cheap BMW’s! Buy everything German if the euro is intact (goes down, this is the likely scenario) they will benefit the most. If on the other hand the Germans decide to do what the Swiss did yesterday if the euro implodes you have German assets (Like yesterday Swiss assets).
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