Switzerland pulls plug on Euros

Not that I know. Then again, I am in the European Union; maybe we use it differently ...

Christian

 

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Must be an American thing. Anyway, we are moving some manufacturing out of Switzerland to another European country.

 

It will be very interesting to watch imports/exports in the next year or so. Many users of Swiss goods would more likely seek alternatives, whereas Swiss suppliers would find it easier and more advantageous to slowly raise their prices until it matched the base before it jumped the percentage. The only sure losers at the moment ( besides the FX margined operations) are those in Europe who hold mortgages and loans payable in francs which were considered more stable ( and pegged) about the last 8 years, who now has a payment from their local earnings of considerable more. So will there be default housing ? Now the European Union will most likely have to begin strong QE. IMO of course

 

EU stands for European Union, EU would be an abbreviation for Europe possibly, if anyone used it , but they don't. Except possiblty for US journalists.

Norway is in Europe geographically, subsection Scandinavia but is not in the EU. The Channel Islands are not in the EU, and neither are the Canary Islands. Gibraltar is not in the EU. And of course Switzerland is not in the EU although it is surrounded by European countries, has special trade agreements with the EU and Switzerland is a Schengen country in a customs free travel zone that reaches from Hungary to Portugal in the east and west, and from Finland to Malta in the north and south.and includes Norway (not in the EU) and excludes Britain and Ireland (in the EU)

I hope that's all clear now. Anyone who equates Europe with the EU has a fair chance of being right with a local reference, if for example they are talking about France, but they are quite wrong if they are referring to the geographical Europe.

 

PS, the GDP of the EU is slightly larger than that of the USA.

 

Yes and Turkey has tried to join for a long time, bet that is out now..


EU population is also much larger than the US...not sure by how much but my guess is 450 mill to 325 mill.....or thereabouts.

 

Interesting conversation. There are so many concepts and terms that are misused and accepted as common knowledge that we often fail to realize what we don't know.

 

we often fail to realize what we don't know.

People don't try to find out things they 'know' already.

 

Huh? So you have never thought you knew something only to later discover you were wrong? I suppose you could make the argument that since you were wrong you didn't really "know" it but we are really splitting hairs at that point.

 

Huh? So you have never thought you knew something only to later discover you were wrong?

Frequently, but my point was, for example, that if you thought EU meant all of Europe, you'd not go to check, because life's too short to go round checking everything you 'know' already, be it true or false or just altered over time.

By extension, many things people 'know' are in fact wrong or obsolete or based on an incomplete understanding of the situation as a whole.

 

I did know that Switzerland is not part of the EU (European Union). I can't believe an honest mistake of using EU to mean Europe would turn this thread.

I'll go sit in the penalty box for 2 minutes for interference.

 

It's hard to imagine coin collectors, of all people, obsessively picking at details.

 

Yeah, I get ya. OCD is a common trait of collectors, but sometimes it does border on ridiculousness.

 

well there is always a difference between geography and politics

 

Funny, I always thought EU stood for Emotionally Unstable. Live and learn I guess.