Re:Switzerland Tried Negative Rates in the 1970s
by beberlei on Saturday August 24, 2019 @04:10AM
(#20785951)
Switzerland would first need to be part of the European Union to be able to be part of the Euro Currency region. They voted against this in 1992 and again in 2001. I am not swiss myself so take this with a grain of salt, but a quick research showed that overwhelmingly swiss citizens are against joining the EU to keep their independence and their unique way of doing democracy (direct votes on issues) probably couldn't work so well anymore.
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Re:Switzerland Tried Negative Rates in the 1970s
by fheld on Saturday August 24, 2019 @04:59AM
(#20786077)
>overwhelmingly swiss citizens are against joining the EU
According to a Report from ETH Zurich [0] 16% of swiss citizens support joining the EU, so this confirms your statement.
[0]"Sicherheit 2018", page 21 https://css.ethz.ch/content/dam/ethz/special-interest/gess/c...
Re:Switzerland Tried Negative Rates in the 1970s
by lagadu on Saturday August 24, 2019 @05:09AM
(#20786113)
> Switzerland would first need to be part of the European Union to be able to be part of the Euro Currency region.
That's incorrect, there are non-EU countries using the Euro too like Andorra.
Re:Switzerland Tried Negative Rates in the 1970s
by tonyedgecombe on Saturday August 24, 2019 @05:47AM
(#20786243)
Andorra has a population of 70,000, you can't use it as an example of what Switzerland could do.
Re:Switzerland Tried Negative Rates in the 1970s
by Rexxar on Saturday August 24, 2019 @07:31AM
(#20786568)
Kosovo and Montenegro (1.7M and 0.7M habitants) are unilaterally using euro. Other (bigger) countries have their money pegged to euro : https://en.wikipedia.org/wiki/International_status_and_usage...
Re:Switzerland Tried Negative Rates in the 1970s
by raverbashing on Saturday August 24, 2019 @05:53AM
(#20786257)
Yes, technically correct statement, but in practice, not gonna happen
Re:Switzerland Tried Negative Rates in the 1970s
by vageli on Saturday August 24, 2019 @10:06AM
(#20787186)
> Switzerland would first need to be part of the European Union to be able to be part of the Euro Currency region. They voted against this in 1992 and again in 2001. I am not swiss myself so take this with a grain of salt, but a quick research showed that overwhelmingly swiss citizens are against joining the EU to keep their independence and their unique way of doing democracy (direct votes on issues) probably couldn't work so well anymore.
From a legal perspective, what's stopping any country from adopting the Euro? In theory they could continuously purchase euro with their currency and limit national currency use. Obviously there are downsides to the country doing it but is there anything legally stopping them (in an international law sense)?
Re:Switzerland Tried Negative Rates in the 1970s
by raverbashing on Saturday August 24, 2019 @05:54AM
(#20786260)
Yes, though they have a very close relationship, so they're "out but close enough"