“Crisis-hit savers in Spain are transferring their their money to Switzerland for safety, the head of Geneva’s 80-strong banking association said on Wednesday.  In addition to an increase in Spanish funds, Droux said Geneva banks had seen an inflow of cash from other eurozone countries so far this year, as well as from the Middle East and developing countries including those in South America.  Switzerland is not a member of the European Union and so is not a member of the eurozone.”

http://www.thelocal.ch/page/view/crisis-hit-spaniards-move-money-to-switzerland

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