World Economy

Withstanding Franc Cap Abolition

Withstanding Franc Cap AbolitionWithstanding Franc Cap Abolition

Switzerland should be able to withstand the abolition of the cap on the franc, the finance minister said in interviews published on Sunday, referring to the central bank’s shock U-turn that sent the franc nearly 30% higher against the euro, Reuters reported. “If the exchange rate stays above 1.10 Swiss francs per euro, companies should be able to adjust,” Finance Minister Eveline Widmer-Schlumpf said.