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24.11.2010
Switzerland believes in the restoration of economic stability in Europe
Switzerland believes in the restoration of economic stability in Europe

Philipp Hildebrand, head of the Swiss National Bank said that he was confident that European leaders will be able to restore financial and economic stability, reducing the pressure on the franc.

"The financial crisis and fears of financial markets with respect to public finances of several developed countries have increased the demand for the Swiss franc as a currency of refuge," he said. - "I am confident that the European Union and the eurozone will survive these challenges. The stability of the euro area is an important factor influencing the franc and the economy."

Ireland on Oct. 21 requested assistance from the EU and the IMF, becoming the second country in the eurozone, which require external support. The Swiss National Bank in June halted its policy of intervention after the purchase of billions of euros aimed at countering strengthen the Swiss franc.

"The Swiss National Bank still remains focused on maintaining price stability, with the task that is not consistent with either inflation or deflation," - said Hildebrand. - "As we have indicated earlier, the bank is ready in a crisis situation to the execution of extraordinary and far-reaching measures to fulfill its mandate."

 

 

 

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