“It is said that the Swiss love only money … this is not true. They also love gold.” Anonymous
The last time we checked, Switzerland was still part of Europe.
Then again, Switzerland has long been different from its European brethren. Switzerland is historically an observer, not a participant. Neutrality gives the country points for ethics among the peace-loving folk – although it didn’t stop the Swiss from dealing with the Nazis during World War II.
Switzerland is also “the vault of the world.” It’s where money and wealth are omnipresent, but never talked about. “Swiss” and “bank” go together like “Swiss” and “watch.”
But there’s a big difference between the Swiss National Bank and the European Central Bank. While the ECB is likely to announce a quantitative easing program to fight deflation next week, Switzerland this week strengthened its currency with a surprise announcement that it was removing its cap on the value of the Swiss franc.