“For the past few generations Switzerland has enjoyed some of the strongest economic fundamentals in the world. The country boasts a high savings rate, low taxes, strong exports, low debt-to-GDP, balanced government budgets, and prior to a few years ago one of the most responsible monetary policies in the world. These attributes made the Swiss franc one of the world’s ‘safe haven’ currencies. Despite the fact that Switzerland was an island of economic health amidst a sea of problems, the reigning economic orthodoxy convinced Swiss leaders that their strong currency was a burden rather than a blessing.”
http://www.europac.net/commentaries/biggest_loser
Related posts:
The Latter-Day Rome Lives And Kills
The Case for Abolishing the Department of Homeland Security
Bill Bonner: Give Thanks to ‘The 1%’
Will Grigg: The Stalinist in the White House
Reevaluating Drug Courts: No Mother Should Have to Go Through What I Did
David Galland: Chains of Convention
The Latest Bubble to Pop: Mortgage Refinancings
The Economics Behind the U.S. Government's Unwinnable War on Drugs
Detlev Schlichter: ‘Positive Money’ and the fallacy of the need for a state money producer
The Muslim Holy War Against The 'Great Satan'
Is the War on Drugs Over?
The Shocking Real Reason for FATCA, and What Comes Next
Libertarian Perspective on Switzerland
And the Credit for Defeating Slavery in America Goes to… Criminals!
The Decline of Political Protest