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Old 27.03.2012, 08:24
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Economics Minister: The CHF/EUR peg ought to be raised to 1.35 or 1.40

is what Economics Minister Schneider-Ammann wants, not immediately, but soon
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Old 27.03.2012, 08:48
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Re: the PEG to be raised to 1.35 or 1.40

What's 'soon'? I don't want to get my 2nd pillar payout, move it, and then have them up the rate the next day. :-)
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Old 27.03.2012, 09:10
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Re: the PEG to be raised to 1.35 or 1.40

Is this relevant to this thread?

http://www.passiveincomeinfo.com/peg...-explained.php

or is it one of these other ones?
http://www2.peg.ch/seiten/home/?oid=1442&lang=de
http://de.wikipedia.org/wiki/Perkuta...e_Gastrostomie
de.wikipedia.org/wiki/Polyethylenglycol
www.peg-kartonagen.ch
www.peg.ethz.ch/
Pflege der PEG-Sonde
peg sonde
peg börse
peg kosmetik
peg aktien

peg ratio
peg perego
peg referendariat
crawling peg
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Old 27.03.2012, 09:16
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Re: the PEG to be raised to 1.35 or 1.40

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is what Economics Minister Schneider-Ammann wants, not immediately, but soon
Well a lot of people "want" it (Coop, Migros, Manor....swiss manufacturing)....The question is what is he gonna do about it?
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Old 27.03.2012, 09:20
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Re: the PEG to be raised to 1.35 or 1.40

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is what Economics Minister Schneider-Ammann wants, not immediately, but soon
I don't mind that as long as he also adjusts all the wages with the same raise...
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Old 27.03.2012, 09:20
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Re: the PEG to be raised to 1.35 or 1.40

I hope not! Shopping in France at 1.20 is too good!
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Old 27.03.2012, 09:21
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Re: the PEG to be raised to 1.35 or 1.40

In this article it says he's "pleading" for the currency peg....

http://www.blick.ch/news/schneider-a...id1823940.html

Pretty weak that you would post such a definitive thread title for a non story


IMO, this thread should be locked......this is the English Forum, not the Yahoo finance message boards
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Old 27.03.2012, 09:25
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Re: the PEG to be raised to 1.35 or 1.40

If you read about it in a paper it's not going to happen.....inside information people could bet 100 of billions & bancrupt the SNB in the process. Personally 1.20 seeems to work perfectly well, CH companies are not collapsing like a house of cards.
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Old 27.03.2012, 12:22
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Re: Economics Minister: The CHF/EUR peg ought to be raised to 1.35 or 1.40

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is what Economics Minister Schneider-Ammann wants, not immediately, but soon
Of course he does, probably business and political interests ringing him up in the middle of the night and banging on his office door.
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Old 27.03.2012, 12:59
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Re: Economics Minister: The CHF/EUR peg ought to be raised to 1.35 or 1.40

Current peg works for *me* - I like it, going to Euroland and feeling 'rich' Not sure whether Eurloand or the UK is the bigegst bargain though...
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Old 27.03.2012, 21:44
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Re: the PEG to be raised to 1.35 or 1.40

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What's 'soon'? I don't want to get my 2nd pillar payout, move it, and then have them up the rate the next day. :-)
Soon means soon ! In other words, he kept it open. But while it will not be tomorrow it can be within a month. I think it will happen within some 6 months.

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Well a lot of people "want" it (Coop, Migros, Manor....swiss manufacturing)....The question is what is he gonna do about it?
Not WHAT but WHEN. He and Mrs Widmer-Schlumpf will, as in the past, use their influence upon the SNB and move the PEG up as required

And you, while mentioning the export industry forgot the inbound tourism, the nr 2 money bringer after the export industry


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In this article it says he's "pleading" for the currency peg....

http://www.blick.ch/news/schneider-a...id1823940.html

Pretty weak that you would post such a definitive thread title for a non story


IMO, this thread should be locked......this is the English Forum, not the Yahoo finance message boards
"unbedingt zu erhalten" etc is NOT "pleading" but a very clear position.

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Last edited by Wollishofener; 27.03.2012 at 22:14.
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Old 27.03.2012, 22:05
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Re: the PEG to be raised to 1.35 or 1.40

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If you read about it in a paper it's not going to happen.....inside information people could bet 100 of billions & bancrupt the SNB in the process. Personally 1.20 seeems to work perfectly well, CH companies are not collapsing like a house of cards.
A) He is as a minimum to defend the 1.20
B) But he will raise the PEG
C) Be realistic, would all the finance market stand together against Switzerland, they could ruin Switzerland within 36 hours, but Switzerland is NOT sooooo important really as the financiers of the world would take action. I mean if you have to "administrate" 20 bio US$, it does not matter whether you shift the money to Zürich or to Oslo, it only matters that you DO shift
D) You have seen how the financial markets reacted when the 1.20 PEG was started.
E) the financial markets in the world can easily work with a €-CHF PEG of 1.40 . And this is what S-A wants. He wants to prepare the financiers for the change, so that they might shift a few billions to Oslo or Stockholm (or whatever).
F) S-A knows of course that the "purchasing-value" of the € being 1.40 and not only 1.20 also damages HIS OWN company by many millions per year. He says that a unified VAT (not three rates but only one) will help. Ask a specialist as I do not quite see it In this aspect, he now has revived the position of his predecessor Mr Merz
http://www.google.ch/imgres?imgurl=h...andard.at/1285

http://www.google.com/imgres?q=Merz+...t:429,r:2,s:55

and this move is very interesting
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Old 27.03.2012, 22:36
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Re: Economics Minister: The CHF/EUR peg ought to be raised to 1.35 or 1.40

it's not a peg, it's a floor.

And by raising the floor basically they are admitting that the euro is over-valued and they need to re-evaluate how it is being exchanged.
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Old 27.03.2012, 22:59
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Re: the PEG to be raised to 1.35 or 1.40

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He and Mrs Widmer-Schlumpf will, as in the past, use their influence upon the SNB and move the PEG up as required
They'd better do their job and replace Mr. Hildebrand ASAP and leave the monetary policy to the SNB!
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Old 27.03.2012, 23:14
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Re: the PEG to be raised to 1.35 or 1.40

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They'd better do their job and replace Mr. Hildebrand ASAP and leave the monetary policy to the SNB!
S-A is the Swiss Federal Minister of Economy and Mrs W-S is the Swiss Federal Minister of Finance, and so, what they do IS their job. And according to the laws, they cannot simply "replace" Mr Hildebrand but have to play along the rules. Both would have liked to go ahead long ago but have to respect the regulations. The monetary policy in Switzerland is the responsiblity of A) the Federal Minister of Finance, B) the President of the Swiss National Bank and C) the Federal Minister of Economics

add to this, that it is NOT just those two Federal ministers but the "Bundesrat-in-corpore" who is to make the government contribution in regard to the presidency of the SNB.

Last time, Mr S-A was "sidelined" by Finance Minister W-S. Looks as if he now is determined NOT to have it happen again.

Last time, Mr Hayek of Swatch promised to have "a word" with S-A, who he described as quite a competent and good man. Looks as if this "word" has taken place in the meantime
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Old 27.03.2012, 23:54
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Re: the PEG to be raised to 1.35 or 1.40

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The monetary policy in Switzerland is the responsiblity of A) the Federal Minister of Finance, B) the President of the Swiss National Bank and C) the Federal Minister of Economics
Nope. The SNB is supposed to act independently and is not allowed to take any orders from the Federal Council.

Art. 6 of the Federal Act on the Swiss National Bank

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In fulfilling its monetary tasks according to Article 5 paragraphs 1 and 2, the National Bank and the members of the Bank's bodies shall not be permitted to seek or accept instructions either from the Federal Council or from the Federal Assembly or any other body.
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Old 28.03.2012, 08:52
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Re: the PEG to be raised to 1.35 or 1.40

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************************************************** **********************



"unbedingt zu erhalten" etc is NOT "pleading" but a very clear position.

************************************************** *****************
Did you read the article past the first sentence? Because the very next one says:

Im Wirtschaftsmagazin "ECO" des Schweizer Fernsehens vom Montagabend plädierte der Wirtschaftsminister gar für eine Anhebung des Mindestkurses auf 1,35 bis 1,40.
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Old 28.03.2012, 09:24
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Re: Economics Minister: The CHF/EUR peg ought to be raised to 1.35 or 1.40

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it's not a peg, it's a floor.

And by raising the floor basically they are admitting that the euro is over-valued and they need to re-evaluate how it is being exchanged.
You mean the Swiss Franc is "over-valued". Upping the floor from 1.2 to 1.4 weakens the Franc. You can buy more of it for the same amount of Euros, so it's weaker.
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Old 28.03.2012, 12:17
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Re: Economics Minister: The CHF/EUR peg ought to be raised to 1.35 or 1.40

Going straight to the horse's mouth shows that the SNB are well aware of the overvaluation of the Swiss Franc - this from their latest statement on March 15th (http://www.snb.ch/en/mmr/reference/p...0120315.en.pdf) summarises their policy of the past few months - NB the bolding of words is mine:

"The Swiss National Bank (SNB) will continue to enforce the minimum exchange rate of CHF 1.20 per euro with the utmost determination. It is prepared to buy foreign currency in unlimited quantities for this purpose. The target range for the three-month Libor will remain unchanged at 0.00–0.25%. The SNB will continue to maintain liquidity on the money market at an exceptionally high level.'

Even at the current rate, the Swiss franc is still high. In the foreseeable future, there is no risk of inflation in Switzerland. Compared to December, the inflation forecast has even fallen further. If developments in the international economy are worse than foreseen, or if the Swiss franc does not weaken further, as expected, downside risks for price stability could re-emerge. The SNB stands ready to take further measures at any time if the economic outlook and the risk of deflation so require.

Developments in the global economy are mixed. While growth in the US was surprisingly positive in the fourth quarter, GDP fell in the euro area and Japan. In Switzerland, growth has slowed significantly over the course of the past year. Added value declined in the fourth quarter in industries affected by exchange rate movements. While the high value of the Swiss franc continues to present enormous challenges to the economy, the minimum exchange rate is having an impact."
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Old 28.03.2012, 21:19
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Re: Economics Minister: The CHF/EUR peg ought to be raised to 1.35 or 1.40

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it's not a peg, it's a floor.

And by raising the floor basically they are admitting that the euro is over-valued and they need to re-evaluate how it is being exchanged.
Quite the other way round, the € is UNDERvalued, as the purchasing power of the € is between 1.35 and 1.40. This now has been publicly confirmed by Bundesrat Schneider-Ammann.
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