Swiss National Bank Hints At Capital Controls | WHAT REALLY HAPPENED


Swiss National Bank Hints At Capital Controls

Even as the whispers that the imposition of capital controls by Greece, which is now running out of both time, negotiating leverage and tax money is just a matter of time, get louder with every passing day if not acknowledged by Greek officials yet, it was none other than one of the supposedly most "rock-solid" central banks in the world that fired a shot across the bow of global financial stability when it hinted that not Greece but another country may be the first to engage in capital controls. The country: Switzerland.

The revelation came during an interview by SNB head Thomas Jordan who, as reported by Reuters, told Swiss radio station SRF on Saturday that "the Swiss National Bank is prepared to intervene in foreign exchange markets and has room to lower already negative interest rates if necessary to weaken the franc, the central bank's chairman said. "We are observing the exchange rate situation as a whole. If necessary we are active but as I said we do not speak about our transactions."

Webmaster's Commentary: 

IF true, the implications for the financial markets are staggering.

Comments

SHARE THIS ARTICLE WITH YOUR SOCIAL MEDIA