The Trader 

Swiss army knives at the ready

The Trader

Swiss army knives at the ready

Five years ago Mario Draghi famously said he’d do "whatever it takes" to save the eurozone’s single currency; this remains a work in progress. Economic growth has gained traction, admittedly from a very low base; unemployment has receded, but is double that in the UK and US. Ailing banks have been ‘resolved’ but bad debts remain much too high in too many of them. The European Central Bank is not alone in adopting unconventional monetary policy. Perhaps they should take a leaf out of the Swiss National Banks’s rule book.

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