The Swiss National bank is preparing to intervene in markets if a Brexit causes a capital flight to Switzerland and pushes the Franc higher, punishing Swiss exporters.
“The SNB is using a mixture of negative interest rates and currency purchases in an effort to weaken the “significantly overvalued” franc and ease pressure on Swiss exporters, which are crucial to the country’s economy.”
Shame the Bank of England does share the same proactive attitude of its Swiss counterparts. Instead of hyping the so called global financial risks of a Brexit, the Bank of England should lay out its plan to prevent turbulence just like the Swiss central bank has presented its plan.
In fact, the growth opportunities if the UK leaves the European Union are huge.
US industrialist Gary Klesch has come out in favour of a Brexit, saying the country could enjoy “explosive growth” if it was no longer tied to Brussels and freed from its “cumbersome” regulation.