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Old 01.05.2018, 17:58
Urs Max Urs Max is offline
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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What I was always told by Swiss friends, particularly around the time of the Brexit referendum, was that Switzerland endured a 10yr recession, then voted to join the single market.
Switzerland had been doing fine before, not joining EEA in 1992 meant "no change" so should have had insignificant effect on the economy (at least for a few years).

Switzerland suffered a housing price crash in the nineties, with longer duration (from about 1992 to 2000) but similar cumulative effect as the housing price crash in the US ten years ago - close to 50% drop (after inflation) in rental house values. It was triggered and unnecessarily prolonged the Swiss National Bank's monetary policy. You simply don't see the economy thrive with that kind of housing market.
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