News du jour: Switzerland tackles franc’s rise

Switzerland has done what financial experts have been expecting for some time now and declared war on the appreciation of the Swiss franc. The central bank’s main concern of course is that the popularity of its currency is threatening its exporters ability to do business abroad. But there are other implications as well. Home owners across Hungary and Poland will be rooting for Swiss success, as they look for a happy end to their unfortunate decision to try to take advantage of Swiss franc mortgages. A target of 1.20 francs to the Euro has been set out, but ultimately, success will hinge on the success of dealing with the euro zone crisis.

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